Brazil: Concerns over Beef Exports

gulfnews.co …. Brasilia: President Michel Temer, confronting a corruption scandal tarnishing Brazil’s lucrative meat industry, met on Sunday with executives and foreign diplomats to assuage health concerns tarnishing a sector responsible for $12 billion (Dh44 billion) in annual exports.

The hastily called meetings, following raids by police on Friday investigating whether companies paid bribes to conceal unsanitary conditions at meatpackers, come as Temer works to protect one of the few vibrant sectors in Latin America’s biggest economy, hit by two years of recession.

The inspection scandal throttled the share prices of JBS SA, the world’s largest meat producer, and poultry exporter BRF SA, after both were targeted in “Operation Weak Flesh” along with dozens of smaller rivals. Read Article