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Brazil's embargo on beef exports to China lifted


Reuters

Brazil lifts suspension of beef exports to China


SAO PAULO, June 13 (Reuters) - Brazil's governmentsaid on Thursday it has lifted a suspension of beef exports to China after dealing with an atypical case of mad cow disease, sending shares of Marfrig Global Foods , Minerva SA and other Brazilian meatpackers soaring.

The suspension had been in effect since June 3 after a case was reported in a 17-year-old cow in the state of Mato Grosso. Cases can arise spontaneously in cattle herds, usually in animals 8 years old or older.

Tereza Cristina Dias, the agriculture minister, said on her Twitter account that Brazil would resume issuance of international health certificates to allow for beef exports to China.

Shares of rival Minerva also rose 3% in São Paulo.

China is the only country among Brazilian importers that enforces a health protocol requiring suspension of beef imports when an atypical case of mad cow disease is reported, Brazil's agricultureministry said in a statement.

The ministry reiterated the Brazilian government's intention to negotiate a new health protocol with Chinese authorities to address the issue.






This article appears in: World Markets , Stocks , Economy , Commodities



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