JBS: exports to Russia are interrupted by ‘logistical issues’

The president of JBS, Gilberto Tomazoni, said that exports of beef, chicken, and pork to Russia are being interrupted by “logistical issues.” According to the executive, sales of these protein items to the country were small compared to the volume that the company exports to other markets.

He added that the company does not have operations in Russia and Ukraine and pointed out that JBS has been closely monitoring events and how they may affect its business.

According to Tomazoni, the war in Ukraine kept the costs of agricultural commodities – which had already been on the rise since last year – high.

The executive indicated that cost pressure is a structural issue that affects more than just the food industry. “The war reversed a decreasing trend, putting costs on the rise again,” he noted.

The executive also stated that, with the start of beef exports from Brazil to Canada, JBS, which has a plant in the country, intends to seek operational and marketing synergies to serve this new market.

USA

According to Gilberto Tomazoni, JBS should continue seeing a positive performance in the company’s results in the United States in 2022. According to the executive, the country is experiencing strong domestic and foreign demand.

“Now, we are seeing an increase in animal prices. Thus, given the context, we believe that margins in the US will remain healthy,” commented him.

Tomazoni also stated that JBS is meeting the demand for beef in the United States with protein produced in Brazil and meat produced in the United States. “Of course, Brazil is more competitive in other countries than the United States,” he said.

Source: Money Times

To read the full original article, please go to:

https://www.moneytimes.com.br/jbs-exportacoes-para-russia-estao-interrompidas-por-questoes-logisticas-2/

Sharing is caring!