🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Brazil Halts Beef Exports to China on Atypical Mad Cow Disease

Published 03/06/2019, 20:22
Updated 03/06/2019, 20:54
Brazil Halts Beef Exports to China on Atypical Mad Cow Disease

(Bloomberg) -- Brazil suspended beef exports to China after a case of mad cow disease was reported in Mato Grosso state, according to a government document seen by Bloomberg, dealing another blow to the nation’s meat exporters.

Shipments have been temporarily suspended in compliance with quarantine and sanitary protocols between Brazil and China, the South American nation’s Department of Inspection of Animal Products said in an internal memo that was also sent to beef exporters. Meat cargoes shipped after May 30 must be returned to producers or redirected to other destinations, it said.

Meat producer Minerva SA fell as much as 6.2% in Sao Paulo while larger rival JBS SA lost 5.4%. Brazil’s agriculture ministry declined to comment on the halt in exports to China. The export suspension was first reported by local newspaper Valor Economico.

The ministry said late Friday a 17-year-old cow with bovine spongiform encephalopathy, or BSE, was found in Mato Grosso. The case was considered “atypical” as the animal contracted the neurological disease spontaneously instead of through contaminated meat-and-bone meal.

Atypical BSE also differs from the classical variety linked to Creutzfeldt-Jakob disease in people. The infected cow didn’t enter the food-supply chain, and the sanitary risk status for classical BSE remains “insignificant,” the ministry said.

Brazilian meat producers have faced a string of bad news including export bans since a major food-safety scandal broke two years ago. China is the largest destination for the country’s beef, accounting for about 20% of total shipments.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.