Agriculture Minister Maggi says U.S.-China trade war bad for Brazil

Agriculture Minister Maggi says U.S.-China trade war bad for Brazil

BRASILIA (Reuters) - Brazilian Agriculture Minister Blairo Maggi said the U.S.-China trade dispute was "very detrimental" to the business interests of the country, a large exporter of commodities like meat and soybeans.

Speaking before a congressional hearing on Tuesday, Maggi said the escalation of the trade war could raise local soybean prices but have a negative impact on animal protein producers. For example, higher feed prices could affect chicken processors, with the risk of Brazil losing share in export markets.

(Reporting by Jake Spring; Editing by Tom Brown)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date: Jun 20, 2018 00:06 AM

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