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☆ Brazil food processor BRF widens net loss in Q3 on grain prices, chicken glut
▼ + stars: | 2023-11-13 | by ( Ana Mano | ) www.reuters.com time to read: +2 min

Logos of Brazilian meatpacker BRF SA are seen in the headquarters in Curitiba, Brazil October 1, 2019. BRF reported a 262 million real ($53.37 million) net loss in the third quarter, larger than the 136.7 million loss a year ago but slightly better than an LSEG consensus forecast of a 279 million real loss. Despite the hit, BRF said improvements in the company's operating performance were already showing results. BRF also said net revenue was 13.8 billion reais in the quarter, nearly the same as in the year-ago period. BRF said EBITDA came in at 1.2 billion reais ($244.45 million), slightly above LSEG consensus estimates of 1.17 billion reais.

Persons: Rodolfo Buhrer, BRF, Miguel Gularte, EBITDA, Ana Mano, Kylie Madry Organizations: meatpacker BRF, REUTERS, SAO PAULO, BRF SA, Management, JBS SA, Thomson Locations: Curitiba, Brazil, U.S

Companies Brf Sa FollowMay 15 (Reuters) - Brazil, the world's top chicken exporter, has for the first time confirmed Highly Pathogenic Avian Influenza (HPAI) cases but only in wild birds, the Agriculture Ministry said on Monday. The avian influenza virus can kill entire flocks of birds and cause losses for the farming sector. Epidemiological surveillance services will be intensified to detect potential cases in wild and commercial animals in the area close to where the cases were confirmed, a government source said. The agriculture ministry said that because the cases were detected in wild animals, Brazil's status "as a country free of HPAI" was not affected. The main importers of Brazil's chicken products in April included China, Japan, South Africa and Saudi Arabia.

Lula departs for China this weekend, but many executives and lobby groups have traveled ahead of the president, government officials said. JBS representatives said the company aims to bolster commercial ties with China, a key trading partner. In a statement, ABPA said they are seeking recognition from Beijing that Rio Grande do Sul and Parana are free of foot-and-mouth disease without vaccination, in order to export pork with bones and pork offal. China buys 44% of Brazil's pork exports by volume and around 14% of its chicken exports, according to ABPA data for the first two months of 2023. Some 62% of Brazil's beef exports went to China last year.

☆ Brazilian lender Santander's Chairman Rial resigns
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Jan 20 (Reuters) - Brazilian lender Santander Brasil SA said on Friday its chairman and former chief executive, Sergio Rial, is resigning from his position at the firm. The resignation comes just days after Rial quit his short-lived job as chief executive of retailer Americanas SA after finding accounting "inconsistencies" that led the company to file for bankruptcy protection. Rial was Santander Brasil's CEO for six years, as well as the bank's regional head for South America, before transitioning to board chairman in early 2022. He is also chairman of the board at fuel distributor Vibra Energia SA (VBBR3.SA), vice chair at BRF SA (BRFS3.SA) and a board member at Delta Air Lines (DAL.N). Rial will be replaced on an interim basis by his vice chair, Deborah Stern Vieitas, until the bank's next general meeting on April 28.

☆ Brazil's BRF signs $111 million leniency deal after graft accusations
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Dec 28 (Reuters) - Brazilian food processor BRF SA (BRFS3.SA) on Wednesday signed a leniency agreement with local authorities over payments it must make to the South American country's government following accusations of graft. The deal with Brazil's attorney general (AGU) and comptroller general (CGU) offices requires BRF to pay around 584 million reais ($111 million) to the government, the CGU said, citing accusations that company employees paid public officials to gain "undue advantages" following federal police investigations. BRF said in a filing the payments will be made in five annual installments, starting next June 30. In a separate statement, BRF said it "understands that signing this leniency agreement puts an end to discussions regarding the past issue," adding that it does not condone illegal activity or improper conduct. Shares in BRF closed on Wednesday up nearly 8% at 7.76 reais, while the broader Bovespa Index rose 1.53%.

☆ Brazil chicken production and exports seen rising in 2023 -industry group
▼ + stars: | 2022-12-15 | by ( Ana Mano | ) www.reuters.com time to read: +1 min

SAO PAULO, Dec 15 (Reuters) - Brazilian chicken processors including heavyweights JBS SA (JBSS3.SA) and BRF SA (BRFS3.SA) will collectively increase output and exports in the new year, projections from meat industry group ABPA showed on Thursday. Brazilian companies will process up to 14.750 million tonnes of chicken meat in 2023 while they are also poised to raise exports by up to 8.5% to an estimated 5.2 million tonnes, the data showed. Ricardo Santin, ABPA president, said Brazil can increase its global share of chicken exports even as local companies grapple with higher corn prices and increases in packaging and fuel costs. Santin said 100 kilograms (220 pounds) of Brazilian broiler chicken is priced at around 146 euros ($156) compared with 263 euros for the European Union product and around 268 euros for U.S. chicken. Outbreaks in Venezuela, Colombia, Ecuador, Peru and Chile this year have prompted Brazilian companies to implement strict protocols, Santin said.

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