China’s ‘perfect storm’ a boon to Brazil’s meat producers: ABPA
SAO PAULO (Reuters) – Brazil’s meat industry association ABPA said a “perfect storm” of health and food security concerns in China promises to drive up demand for South American meat, giving Brazilian meatpacker shares a boost on Monday.
China reported a new outbreak of bird flu on Saturday while millions of chickens face the prospect of starvation amid a lockdown in Hubei province, near the epicenter of the coronavirus epidemic.
That comes as Chinese meat suppliers are still grappling with the lasting effects of African swine fever (ASF), which decimated a major portion of the country’s pig population.
“ASF, coronavirus and bird flu influence consumer habits and may drive Chinese demand for Brazilian meat,” Francisco Turra, president of ABPA, told Reuters in a telephone interview.
“Our representatives in China tell us that there are major concerns over food security.”