The price of meat in Brazil should register a rise in the coming months, as a consequence of the global economic pressure caused by the war in Ukraine.
Protein is impacted by the instability in the prices of agricultural commodities used to feed animals, which have risen since the beginning of the conflict.
The projection of Ipea, the Institute of Applied Economic Research, points out that the biggest increase should be in the cost of pork protein and per kilo of chicken. The main inputs used in animal feed, corn and wheat, had a rise of 5% and 3%, respectively, in prices on the domestic market.
Stonex hedge manager Marianne Tufani commented on the future of this situation.
“We are very concerned with global supply and also with the appreciation of corn, and this makes all buyers’ eyes turn to the Brazilian crop, which would encourage Brazilian corn exports. One thing that we also have to keep an eye on, which is not yet on the radar, and which we have good prospects for now is the safrinha because the weather, for now, is contributing.”
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Source: CNN Brasil
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