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Article: Fitch: EU Ban on Brazilian Beef to Have Only Very Near-Term Impact.
- Article from:
- Business Wire
- Article date:
- January 31, 2008
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NEW DELHI & SINGAPORE -- Fitch Ratings expects the announcement by the European Union (EU) to suspend purchases of fresh Brazilian beef to have a very near-term effect on the industry, but believes that over the medium- to long-term strong industry prospects will remain unchanged.
"The announcement by the EU will likely affect domestic prices of fresh beef as producers defer sales to other regions, including the domestic market," says Revisson Bonfim, Director of Latin America Corporates. "However, such a reduction in domestic beef prices should be accompanied by a similar reduction in cattle prices which will serve as a partial offsetting effect." Live cattle ...