Brazil's ag min says meat industry may lose 10 percent market share | Reuters

BRASILIA Brazil's meatpacking industry has been badly damaged by a police investigation into alleged unsanitary and corrupt practices, and could lose upward of 10 percent of its global market share, Agriculture Minister Blairo Maggi said on Wednesday.

Maggi told a Senate Committee that the main concern was with the China and Hong Kong not having taken a definitive stance on their bans of meat from Brazil, the world's biggest producer of beef and poultry.

The minister added that unless quick action is taken by the government, it could take Brazil up to five years to recoup its market share. (Reporting by Marina Carolina Marcello; Writing by Brad Brooks; Editing by Daniel Flynn)

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


Updated Date: Mar 23, 2017 00:45 AM

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