Chinese Demand Pushes Brazil Beef Prices to Record High
Brazil's famous barbecue is getting more expensive as Chinese demand is increasingly swallowing up the country's beef supply, pushing Brazilian cattle prices to a record high.
China's hunger for foreign meat has shot up as an outbreak of African swine fever has decimated its domestic pig population and has sent it looking for substitutes. Chinese imports of Brazilian meat are up 23.6% for January to October against the same period last year, meatpackers association Abrafrigo says.
Wholesale beef prices in the greater Sao Paulo area have consequently hit an all-time high of 13.9 reais per kilogram ($1.50 per pound) this week, according to...
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