An international group of 30 non-profit groups, including Global Witness, Rainforest Action and Greenpeace Brasil, published an open letter on Wednesday warning investors considering buying shares in two Brazilian meat giants of their exposure to deforestation. Shares held by the Brazilian Development Bank (BNDES) in JBS and Marfrig – two of the world’s biggest meat companies – will go on sale next year.
Since agreeing to export donkey meat and leather to China in July 2017, over 100,000 donkeys have been killed in three slaughterhouses in Bahia, and the state’s goal is to export 200,000 a year – even though, according to official statistics from 2012, Brazil is home to just over 900,000 donkeys. If the slaughter hits the rates sought by China, donkeys could disappear from Brazil in less than five years. China consumes almost five million donkey skins a year – each worth up to £3,000 on the Asian market.
The federal government will pay debts of R$1.815 billion to the United Nations (UN) and the BRICS bank (a group comprising Brazil, Russia, India, China and South Africa) by the end of the year. On the other hand, it will no longer honor commitments to the Latin American Development Bank (CAF), the Inter-American Investment Corporation (IDB Invest), the Financial Fund for the Development of the La Plata Basin (FONPLATA), and the International Development Agency (IDA).
A top White House adviser cast doubt on President Trump’s statements last week that he intended to immediately place steel and aluminum tariffs on Argentina and Brazil. The White House is considering the action, Lawrence Kudlow, the director of the White House National Economic Council, said at The Wall Street Journal CEO Council meeting on Tuesday, but the U.S. might not move forward with the tariffs.
Chinese food companies bought up a quarter of Brazilian beef exports in 2018, up 50% on the previous year and more than any other country. As well as beef, China buys more soy than any other country from both Brazil, where production grew 312% between 1991 and 2017, and Argentina.
Tesco, Sainsbury’s, Asda and the UK’s largest asset manager are among 87 major companies and investors who have written to Brazil’s President, Jair Bolsonaro, urging his government to stop further deforestation of the Amazon for soy production.
Metal stocks such as Jindal Steel, Tata Steel, NMDC, and Vedanta declined in the early mornig trade on the NSE on Tuesday after US President Donald Trump “restored” tariffs on all steel and aluminium products imported from Brazil and Argentina. Individually, NMDC shed 2.7%, followed by Jindal Steel (2.4%), Steel Authority of India Ltd (2.2%), Tata Steel (2.19%), and Vedanta (2%).
Donald Trump is to reimpose tariffs on imports of steel and aluminium from Brazil and Argentina after accusing the countries of a “massive devaluation” of their currencies that hurt US farmers. Mr Trump originally announced the 25 per cent metals tariffs on national security grounds last year, but then exempted some US allies following lobbying from free-trade advocates on Capitol Hill.
MOSCOW, Nov 29 (Reuters) – Russia’s agriculture safety watchdog said on Friday it removed temporary restrictions on beef supplies to Russia from two plants in Brazil starting from Nov. 29. One of the plants authorized to resume sales to Russia is operated by Minerva SA and the other one by JBS , the Russian regulator, Rosselkhoznadzor said in a statement.
Compass Group, the world’s largest caterer, has announced plans to scale back operations in Europe, Japan, and Brazil by £300m as the global economy shows signs of weakness.