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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  BRF S.A.    BRFS3   BRBRFSACNOR8

BRF S.A.

(BRFS3)
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BRF S A : After COVID-19 outbreak, BRF plant in southern Brazil cleared to resume exports to China

11/30/2020 | 03:38pm EST
FILE PHOTO: A logo of Brazilian meatpacker BRF SA is seen in the headquarters in Curitiba

SAO PAULO (Reuters) - Brazil-based food processor BRF SA said on Monday its Lajeado pork unit has been authorized to resume exports to China, according to a statement sent to Reuters, as the Asian nation continues to rely on meat imports.

The plant, which faced an outbreak of the novel coronavirus among workers in May, employs about 3,000 people. The unit should resume exports over the coming days, the statement said.

"After an inspection by the Chinese authorities, it was possible to prove the commitment that all of us at BRF have always had regarding the health and safety of our employees and our products," BRF said.

Major food-producing countries have grown increasingly frustrated with China's scrutiny of imported products. They have called on Beijing to stop aggressive testing for the coronavirus, which some say is tantamount to a trade restriction.

At least three other Brazilian meat factories remain blocked by China over coronavirus concerns, according to the Agriculture Ministry's website,. All are located in Brazil's southernmost state of Rio Grande do Sul.

Two of the plants belong to JBS SA and are based in the towns of Passo Fundo, where it processes poultry, and Três Passos, where it processes pork. The other is a poultry unit operated by privately owned Companhia Minuano de Alimentos in the same location as BRF's Lajeado plant.

The agriculture ministry did not have an immediate comment on the status of the plants that remain blocked.

The Lajeado unit had been suspended by China since July, the company's statement said. Currently, BRF has 14 plants authorized to export to China, including 10 poultry and four pork processing units.

Earlier this year, BRF's Dourados facility was also suspended by China and then allowed to resume chicken exports, all in the space of a few weeks.

(Reporting by Ana Mano; Editing by Bernadette Baum and Dan Grebler)

By Ana Mano


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BRF S.A. 3.19% 20.69 End-of-day quote.-6.13%
JBS SA 0.16% 24.51 End-of-day quote.3.81%
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Financials
Sales 2020 38 424 M 7 028 M 7 028 M
Net income 2020 734 M 134 M 134 M
Net Debt 2020 15 446 M 2 825 M 2 825 M
P/E ratio 2020 18,7x
Yield 2020 0,93%
Capitalization 16 711 M 3 061 M 3 057 M
EV / Sales 2020 0,84x
EV / Sales 2021 0,78x
Nbr of Employees 90 000
Free-Float 99,4%
Chart BRF S.A.
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BRF S.A. Technical Analysis Chart | BRFS3 | BRBRFSACNOR8 | MarketScreener
Technical analysis trends BRF S.A.
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 26,23 BRL
Last Close Price 20,69 BRL
Spread / Highest target 64,3%
Spread / Average Target 26,8%
Spread / Lowest Target -8,17%
EPS Revisions
Managers and Directors
NameTitle
Lorival Nogueira Luz Global Chief Executive Officer
Pedro Pullen Parente Chairman
Vinícius Guimarães Barbosa Vice President-Operations & Procurement Officer
Carlos Alberto Bezerra de Moura Chief Financial Officer & Vice President-Finance
Neil Hamilton dos Guimarães Peixoto Vice President-Research & Development
Sector and Competitors
1st jan.Capitalization (M$)
BRF S.A.-6.13%3 061
HENAN SHUANGHUI INVESTMENT & DEVELOPMENT CO.,LTD.3.98%26 091
HORMEL FOODS CORPORATION-2.57%24 518
TYSON FOODS, INC.3.23%24 267
WH GROUP LIMITED0.31%12 381
JBS SA3.81%11 777