Six countries have banned imports of Brazilian beef, including No. 6 importer Chile, since a case of atypical mad cow disease was confirmed last month, Brazil’s foreign trade secretary Tatiana Prazeres said on Wednesday.
Brazil, the world’s No. 1 beef exporter, is considering retaliation at the World Trade Organization (WTO) if the countries do not lift the bans, Prazeres told reporters in Brasilia, insisting that Brazilian beef is safe to eat.
“There is no basis for these decisions on health parameters and the government is analyzing what measures will be taken,” she said. “Taking action at the WTO is on our radar.”
Reese Ewing – Reuters, 06/21/2011
Brazil has for centuries been known as a leading producer and exporter of the world’s breakfast foods — orange juice, coffee, sugar and cocoa.
But over the past two and a half decades since the opening of the economy to foreign investment, Latin America’s largest economy has also become a leading producers of important grains and meats, through investments in technology and land.
Following is a list of most of Brazil’s main agricultural products and exports:
Paulo Prada – WSJ, 06/13/2011
Brazilian policy-makers have fueled their country’s economic boom through a state-owned bank that keeps business flush with credit.
Now the engine that has helped the nation become a global player in beef, oil and mining is colliding with another policy imperative: battling inflation.
The Brazilian National Development Bank, in its latest spur to the economy, last week announced it would lend $1.6 billion at below-market interest rates to help a large company to build a pulp and paper mill.
Joshua Goodman – Bloomberg, 08/13/2010
Brazil’s state-controlled Caixa Economica Federal will finance up to 1 billion euros ($1.3 billion) in beef shipments to Iran after private banks refused to extend credit to exporters, fearing retaliation from the U.S. and European Union, Valor Economico said.
The financing will be backed by Brazil’s Treasury, which will be responsible for collecting payment from the Iranian government, the Sao Paulo-based newspaper said.
Sanctions imposed by the United Nations in June over Iran’s nuclear program, and followed up with tighter restrictions by the U.S. and EU, has led Brazilian banks to reject credit guarantees issued by Iranian banks, the newspaper said.
President Luiz Inacio Lula da Silva, in a visit to Tehran in May, signed an agreement to finance food exports to Iran, as well as boost investment and expand air connections between the two countries. Annual trade with Iran has more than doubled to $1.2 billion since Lula took office in 2003.
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