Rabobank Poultry Quarterly Q3 2018: Trade Volatility, but Local Markets Bullish
Global trade has recently become highly volatile, and we have seen some major movements in trade streams and prices due to several important factors.
In April, the EU removed 20 Brazilian plants from the export allowance list due to violation of EU import requirements regarding salmonella control. This is affecting the global breast-meat market heavily, as the EU is the world’s key importer of these products, and other potential buyers like the US are not open to Brazilian poultry imports. Although the EU reduced imports over January-April by only 9%, Brazil’s imports were down 45%.
Saudi Arabia is in the process of implementing its new halal allowance standards, which have already led to a drop of 30% in imports in Q1 2018. Saudi Arabia is Brazil’s number-one export market and a key buyer for whole chicken.
China has now issued a special safeguard on imports of Brazilian poultry. This will lead to implementation of company-specific import levies and will certainly impact...
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