Minerva is expecting to resume beef exports to U.S.

Minerva is expecting to resume beef exports to U.S.

Minerva SA, Brazil’s fourth-largest listed meat company by sales, expects the country will resume fresh beef exports to the United States in the first quarter of 2018, Chief Executive Fernando Galletti said on Tuesday.

The United States had halted the import of fresh Brazilian beef in June after a high percentage of shipments failed to pass U.S. Department of Agriculture safety checks. The USDA said the suspension would remain until Brazil’s Agriculture Ministry took corrective action. Speaking on the sidelines of a conference hosted by Minerva, Galletti told reporters his prediction was based on talks with the government.

“This is the expectation we are hearing from the Agriculture Ministry,” he said, adding the company interacts with the government through a meatpackers industry group. Galletti said the company was ready to resume supplies to the U.S. when the ban is lifted. The ministry did not immediately respond to a request for comment.

Since the start of the year, domestic meat producers have faced a series of challenges ranging from a food safety scandal, which shut export markets temporarily for Brazil, to a corruption scandal that ensnared JBS SA, the world’s largest meat company.

Source: Reuters