Brazil’s Chicken Sector Cashes in on Weaker Currency
BRAZIL – Brazil is capitalising on exchange rate volatility with a ten per cent rise in chicken meat exports as the real loses value.
7 May 2015
2 minute read
By: April shipments were 9.3 per cent higher on the previous year, grossing R$ 1.7 billion, reported the Brazilian Animal Protein Association.
However, receipts fell by almost 20 per cent in value against the US dollar.
Higher sales were driven by importing activity in Angola and Hong Kong, said ABPA vice president of poultry, Ricardo Santin.
ABPA chief executive, Francisco Turra, said: "With the exchange rate volatility, exporters are planning the best times to effect sales, which may have impacted the balance of April.
“Also, the shutdowns of truck drivers in states with exporting plants such as Mato Grosso and Mato Grosso do Sul, affected the pace of business.”
