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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  BRF S.A.    BRFS3   BRBRFSACNOR8

BRF S.A.

(BRFS3)
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Meat lobby to Brazil: trade talks with Indonesia hinge on halal WTO compliance

02/22/2021 | 03:48pm EST
FILE PHOTO: Chicken are pictured at a poultry factory in Lapa city

SAO PAULO (Reuters) - Brazil should only begin free trade talks with Indonesia if it adopts recommendations made by a World Trade Organization panel in 2017 after a dispute over halal chicken, Brazil's meat lobby ABPA said in a letter sent to three government ministries.

"We don't oppose a free trade agreement with Indonesia," Ricardo Santin, head of ABPA, said on Monday with reference to the letter sent to the foreign relations, economy and agriculture ministries on Jan. 26, but not previously reported.

He said there should be "no border for food".

None of the ministries, nor the Indonesian embassy in Brasília, replied to requests for comment.

Brazil, the world's largest halal chicken exporter, requested WTO consultations with Indonesia in 2014 concerning measures blocking its access to that market.

Brazil won the dispute, but Indonesia requested "a reasonable period of time" to adopt its recommendations and in December last year appealed to the WTO's appellate body, further delaying the prospect of the recommendations being adopted.

ABPA has said Indonesia's chicken industry would benefit from more competition. Indonesians eat almost 12 kilos per person per year, about four times less than Brazilians, and domestic chicken prices are high, it said.

CP Indonesia, also known as PT Charoen Pokphand Indonesia, is Indonesia's largest producer of processed chicken, day-old chicks and poultry feed, industry website WATTPoultry.com said. The company did not have an immediate comment.

Welber Barral, legal counsel to ABPA, said Indonesia is on a list of nations, published by the government in 2021, with which Brazil aims to discuss free trade.

"Compliance with multilateral obligations is an element to be considered in the bilateral relationship of any country with Brazil and Mercosur South American trade bloc," Barral said.

(Reporting by Ana Mano; editing by Barbara Lewis)

By Ana Mano


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BRF S.A. 3.12% 23.81 End-of-day quote.8.03%
JBS S.A. 2.54% 26.27 End-of-day quote.11.03%
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Financials
Sales 2020 38 665 M 7 158 M 7 158 M
Net income 2020 753 M 139 M 139 M
Net Debt 2020 14 976 M 2 773 M 2 773 M
P/E ratio 2020 21,5x
Yield 2020 0,66%
Capitalization 19 328 M 3 569 M 3 578 M
EV / Sales 2020 0,89x
EV / Sales 2021 0,81x
Nbr of Employees 90 000
Free-Float 99,4%
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 27,14 BRL
Last Close Price 23,81 BRL
Spread / Highest target 42,8%
Spread / Average Target 14,0%
Spread / Lowest Target -7,60%
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Managers and Directors
NameTitle
Lorival Nogueira Luz Global Chief Executive Officer
Carlos Alberto Bezerra de Moura Chief Financial Officer & Vice President-Finance
Pedro Pullen Parente Chairman
Neil Hamilton dos Guimarães Peixoto Vice President-Research & Development
Vinícius Guimarães Barbosa Vice President-Operations & Procurement Officer
Sector and Competitors
1st jan.Capitalization (M$)
BRF S.A.8.03%3 440
HORMEL FOODS CORPORATION1.57%25 560
HENAN SHUANGHUI INVESTMENT & DEVELOPMENT CO.,LTD.2.05%25 356
TYSON FOODS, INC.6.08%24 871
WH GROUP LIMITED3.38%12 720
JBS S.A.8.28%12 398