September 28, 2022

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JBS (JBSS3) and Marfrig (MRFG3) shares resisted the announcement of the Chinese ban;  JBS Factory Is Frequent Offender - Money Times

JBS (JBSS3) and Marfrig (MRFG3) shares resisted the announcement of the Chinese ban; JBS Factory Is Frequent Offender – Money Times

China suspends imports from two manufacturers, JBS and Marfrig (Photo: China REUTERS/Tingshu Wang)

Actions JBS (JBSS3) And Marfrig (MRFG3) Thursday resist the ad China at Suspension of imports of two units of companies for a weekeffective as of Friday (8).

They followed the Ibovespa Index (IBOV), which closed at another 0.54% (118,800 points), and even recovered from two consecutive lower sessions. JBS ended the day practically stable, up by 0.03% (R$37.60), and Marfrig up 1.31% (R$21.60).

The ban on manufacturers Mozarlândia (GO) and Tangará da Serra (MT), respectively JBS and Marfrig, which was issued by the China Customs Authority (CGAC) without explanation, does not directly affect because export obligations can be transferred to others.

However, the JBS unit, one of the newest in the group, is to repeat the offense for the third time in 2022, having been banned twice last month, and the market should follow the potential arguments of the Chinese authority.

It is also expected that the suspension of slaughterhouses will not be extended or there will be developments for other units of the two companies.

The CGAC design also reached the Zanchetta slaughterhouse, in São Paulo, and Uruguayan companies.

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