Minerva predicts pressure for northern hemisphere packers in 2013
19/10/2012
These figures represent a 7.6% increase in revenues compared to the third quarter of last year and a return to profit following a loss of $64.6 million in the second quarter of this year.
Commenting on the results, Minerva company president, Fernando Galletti de Queiroz, said demand for beef was strong in the domestic and external markets and predicted that this situation would continue for his company into 2013. But he added: “There will be quite a lot of uncertainty next year over the price of cereal crops, which may be reflected in cattle production in the northern hemisphere.”
Mr Galletti concluded that this will help consolidate South American packers’ position as major suppliers of beef to the global market. “It’s not that our prices will be a lot lower,” he insisted, “but our beef will be more competitive cost-wise in relation to other protein sources.”
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