Amid processing plant shutdowns and decreased production as a result of the coronavirus pandemic, Brazil’s JBS SA has a message for the U.S.: We have you covered for meat supply shortages.
The CFO of JBS said the company can scale up exports from Australia and has idle capacity in Brazil for beef shipments to the U.S., according to a Bloomberg report.
“Our geographic diversification has been a natural hedge for trade barriers and sanitary issues,” CFO Guilherme Cavalcanti said in a webinar sponsored by Genial Investimentos.
“Now, this flexibility has worked as a supply hedge for the current crisis.” Minerva SA, and Marfrig Global Foods SA, both Brazilian meat giants, have also said they will meet U.S. demands for meat.
