GFM Network News


JBS gears up for U.S. and Brazil expansions

Brazilian meat giant reiterates plans following strong Q3 results

Sao Paulo | Reuters — Food processor JBS SA reiterated plans to grow production capacity in Brazil and in the United States after posting strong third quarter results, executives said in a conference call to discuss earnings on Thursday. CEO Gilberto Tomazoni said 12 of the company’s plants in Brazil were being expanded, as JBS

Brazil importing soy, food staples as prices soar

The surprising move is part of ongoing global food supply chain disruptions

Reuters – Brazil, one of the world’s largest agricultural producers, is importing food staples including soybeans due to a rise in domestic prices, President Jair Bolsonaro said in a video posted on social media. Brazil’s turn to imports is the latest disruption to the global food supply chain as soybean prices hover around four-year highs,


JBS to seek damages from founders

Brazil shareholder vote a win for Brazil's BNDES

Sao Paulo | Reuters — Shareholders in JBS SA on Friday cleared the way for the Brazilian food processor to sue its own controlling stakeholders and certain former managers, a rare victory for shareholder activism in Latin America’s largest economy. The vote was a win for JBS’s top minority shareholder, national development bank BNDES, which


JBS to resume U.S. share listing plan after COVID-19 fallout

Management looking also for US$100 million in cost cuts

Sao Paulo | Reuters — Brazil’s JBS SA is reviving plans to list shares on Wall Street after dealing with the COVID-19 pandemic’s fallout, CEO Gilberto Tomazoni said on Friday, as the world’s largest meatpacker reported strong quarterly results. Speaking on a conference call with analysts following the company’s second-quarter results, Tomazoni said the focus


JBS invests $19-million in safety measures amid COVID-19 pandemic

Sao Paulo | Reuters –Brazilian food processor JBS SA has invested more than 100 million reais ($19.3 million) in health, safety and contingency measures at all its Brazilian production units, according to a Wednesday company statement that comes as the novel coronavirus continues to ravage local meat plants. The company said the funds were invested

JBS sees steady trade flows but flags export woes

Sao Paulo | Reuters — Brazil’s JBS, the world’s largest meatpacker, has said the COVID-19 coronavirus epidemic could cause container shortages, port disruptions and other logistics issues, but said trade flows should stay strong thanks to Chinese demand. In a conference call to discuss earnings results on Thursday, JBS executives said its export operations had

Dreyfus to cut costs amid trade jitters, swine fever

Sao Paulo | Reuters — Agricultural commodities giant Louis Dreyfus Co. (LDC) has launched a cost-cutting and reorganization drive in the face of difficulties confronting global trading houses, according to an internal memo seen by Reuters on Wednesday. LDC confirmed the memo’s authenticity in a statement, saying the company aimed to optimize its cost base



Brazil beef plants set for Chinese inspections

Amid swine fever outbreak, China seeks new protein sources

Chinese health inspectors are evaluating four Brazilian beef plants as part of a push to approve new meat exporters amid an outbreak of swine fever, two people familiar with the matter told Reuters. Marfrig Global Foods SA owns one of the plants, located in the town of Várzea Grande in Mato Grosso state, according to