Food Safety Scandal Embroils Brazil’s Meatpacking Industry as China Suspends Imports and Hong Kong Issues a Recall

China and the European Union curtailed meat imports from Brazil on Monday [20 March 2017] after police, in an anti-corruption probe criticized by the government as alarmist, accused inspectors in the world’s biggest exporter of beef and poultry of taking bribes to allow sales of rotten and salmonella-tainted meats…Full Article: China Daily Mar 2017 Brazil’s

Shanghai Pengxin May Buy Brazilian Lender to Facilitate Future Agribusiness Deals

Shanghai Pengxin Group Co is in talks to buy control of Brazilian mid-sized lender Banco Indusval & Partners SA (BI&P), as the Chinese conglomerate wants to expand beyond commodities in Latin America’s largest economy, three sources with direct knowledge of the matter said. Representatives of Pengxin and partners of BI&P have discussed tie-up scenarios, two

Snubbed By Australia, Shanghai Pengxin Purchases a 57% Stake in Brazilian Soybean and Grains Trader

Hunan Dakang Pasture Farming, a company of the Shanghai Pengxin group, has paid US$286 million to acquire 57 percent of Brazilian trading company Fiagril Ltd, reported financial news agency Bloomberg. In a statement, Fiagril Participações, based in the state of Mato Grosso, reported its shareholders had reached an agreement with a Chinese company, whose shares

Heilongjiang’s Meat Processor, Foresun Group, to Buy Three Abattoirs in Argentina from Brazil’s Marfrig Global Foods

Chinese meat processor Foresun Group has agreed to buy three beef slaughterhouses and a livestock confinement unit in Argentina from Brazilian meatpacker Margrif Global Foods SA for $75 million. Under the agreement, Black Bamboo Enterprises, a subsidiary of Foresun, will take over three meatpacking facilities in the towns of Hughes [Santa Fe Province], Vivorata [Buenos

China is the Top Market for Brazilian Beef

China has become the main market for Brazilian beef, an official report said Tuesday [1 March 2016]. China bought 906 million U.S. dollars’ worth of beef from June 2015 to January 2016, making up 28 percent of the sector’s revenue, according to data from the Brazilian Ministry of Development published by local daily Folha de

Hainan Law Enforcement Officials Seize Largest Single Shipment of Smuggled Frozen Meat Products

Police on the southern island province of Hainan have intercepted their largest ever haul of smuggled frozen meat. The 660 tonnes of beef, ox tripe, chicken and chicken feet from Brazil, Argentina, Poland and Australia filled 18 shipping containers and is worth more than 21.5 million yuan (3.4 million U.S. dollars), the border police of