Friboi to beef up exports
Despite tighter EU restrictions on Brazilian beef imports that will be implemented at the end of this month, Brazilian meat packer JBS-Friboi still plans to increase revenues by around $2 billion this year.
In its projections, the company expects revenue to rise to $15 billion this year, up from $13 billion in 2007, with JBS Brasil set to achieve profits of $3.36 billion, JBS Argentina $765 million, JBS Australia $2billion, and JBS USA at $8.82 billion .
The EU decided to increase restrictions and controls on imports of beef from Brazil (see www.leatherbiz.com, December 20) following numerous complaints from EU producers over animal health and production standards. As a result, effective January 31, beef will only be allowed to be imported from approved holdings.
