BRF S.A. ("BRF" or "Company") (B3: BRFS3) (NYSE: BRFS) announces to its shareholders and the general market that it filed, on April 24, 2020, its Annual Report on Form 20-F for the year ended December 31, 2019 with the U.S. Securities and Exchange Commission ("SEC") and with the Brazilian Securities Commission ("CVM"), in English. The version of the Form 20-F translated into Portuguese will be filed shortly with the CVM and made available on the Company's website.
Brazil's investors were ebullient today. Shares of Brazilian stocks of all sorts shot out of the gate Tuesday morning along with the broader market, with financial firms Banco Bradesco (NYSE: BBD) and Itau Unibanco (NYSE: ITUB), meat processor BRF (NYSE: BRFS), and oil major Petroleo Brasileiro (NYSE: PBR) (NYSE: PBR.A) all notching gains of roughly 10% or more in early trading.
Against a stronger dollar, the currencies of Brazil and Mexico both weakened about 0.7%, with the peso giving back most of Monday's gains. After a severe whipping last week, markets around the globe breathed a sigh of relief on Monday as major central bank officials raised hopes that necessary action would be taken to support markets as the virus spread fast and far beyond China where it originated.
Hundreds of meatpacking workers at a single BRF SA plant in southern Brazil have tested positive for the novel coronavirus, the company said on Monday, amid global concerns about the pandemic disrupting food supplies. Brazilian meatpacker BRF said in a statement that nearly 340 people, or 6.6% of workers, at its Concórdia plant in Santa Catarina state had tested positive for the virus. The workers have been preemptively suspended from work based on the positive results from rapid testing and will now be submitted to slower but more accurate molecular diagnostic testing, BRF said.
Brazilian food processor BRF SA said in a statement on Thursday it has received 15 permits to export meat products to Oman as it seeks to strengthen its position in the key Middle East market, according to a statement. BRF said the plants approved to export to Oman are spread across six Brazilian states. Oman is part of the halal market, which buys food according to Muslim dietary requirements, the statement noted.
(Bloomberg) -- Top Brazilian chicken producer BRF SA is preparing for possible processing bottlenecks as the coronavirus spreads in the South American meat-producing giant.The Sao Paulo-based company is controlling chick volumes to avoid having to cull birds if slaughtering capacity drops, Chief Executive Officer Lorival Luz said Monday in a conference call. That will result in lower chicken production in the second quarter, he said.Processors will struggle to maintain output levels if rising Covid-19 cases prompt local authorities to order more plant shutdowns. On Friday, BRF had its first plant halted by a judge.“Depending on measures taken by local authorities, we may see some difficulties that may lead to a supply shortage,” Luz said.The company is also removing workers who have had contact with sick people as a preventative step. To offset staff absences, BRF is hiring as many as 5,000 temporary workers. The company has about 80,000 people in operational activities.“Brazil is not immune to the pandemic,” Luz said. “We have been taking all measures to avoid contamination, but it may happen outside the plants, and it may happen fast in a certain region, leading to a drop in our production capacity.“Still, he said Brazil probably will avoid the kind of widespread meat disruptions seen in the U.S. in the past month. The South American nation is in a better position to fight the virus after implementing measures in advance, he said.On the demand side, BRF sees only a slight net impact as a food-service slump is offset by higher retail sales. China’s demand for meat will remain strong, and chicken could be favored in tough economic times because it is cheaper than beef and pork, he said.BRF SA reported profit that topped estimates amid rising export demand, specially from China, increasing sales in Brazil and a boost from the local currency slump on revenues. Shares rose as much as 15% in Sao Paulo.Shipments to China soared 90% from a year earlier with more plants winning approval for exports. Prices to the Asian nation in dollar terms rose 25% after African swine fever decimated the hog herd, boosting demand for pork and meat alternatives.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
* Argentina extends $65 bln debt deadline to May 22 * Brazil c.bank to shower economy with money in case of depression * Mexico's plans to reopen economy, cenbank meeting eyed * Emerging economies burn through $240 bln in reserves - BofA * Latam's second-largest carrier Avianca files for bankruptcy By Susan Mathew May 11 (Reuters) - Latin American currencies weakened on Monday, led by Brazil's real, while the Argentine peso dipped to new lows with negotiations over a $65 billion debt restructuring proposal extended as default risk loomed. Sentiment worldwide fizzled as some countries such as South Korea and China reported a second wave of the COVID-19 disease, while the number of new cases in parts of the emerging world such as Brazil, Russia and Mexico still remained worryingly high.
The Brazilian agriculture ministry has closed a poultry and pork processing plant operated by BRF SA, the company said in a statement sent to Reuters on Wednesday, citing problems with the plant's water supply system. BRF said it is taking all measures and carrying out revisions of its water supply protocols with the expectation of safely resuming activities at the plant "as soon as possible."
Buenos Aires City, April 07, 2020 -- Moody´s Latin America Agente de Calificación de Riesgo S.A., ("Moody´s") has downgraded the global scale and national scale ratings for several non-financial companies operating in Argentina. The rating actions follow the downgrade of the Government of Argentina's bond rating to Ca from Caa2, with the outlook changed to negative from ratings under review, on April 3, 2020.
Brazilian meatpacker BRF SA said on Monday that two of its plants in the southern state of Paraná have been temporarily suspended from exporting poultry to Saudi Arabia due to alleged irregularities in feed production. In a securities filing, the company said that five of its other plants are still permitted to export poultry to Saudi Arabia and that it has started to redirect production until the probe is concluded. BRF also said one of the two plants under investigation was exporting around 6,000 tonnes per month to Saudi Arabia.
Health authorities in Brazil's southernmost state of Rio Grande do Sul said the new coronavirus has spread to nine local meat processing plants, according to a government epidemiology report sent to Reuters on Thursday. The report tracked COVID-19 cases between March 20 and April 27 in seven towns of Rio Grande do Sul state, including Lajeado and Passo Fundo, where large meatpackers BRF SA and JBS SA have operations. The report identified the towns in which nine meat plants with confirmed cases are located, but does not name the companies or specific plants affected by the outbreak.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
What happened Shares of Brazilian food giant BRF S.A. (NYSE: BRFS) popped on Monday morning, after the company reported a surge in sales for the first quarter of 2020. As of 12:30 p.m. EST, the stock was up 10%.
Latin American companies from oil behemoth Petrobras to cement maker Cemex, facing drastic coronavirus-linked revenue declines, are rushing to draw down credit lines amid a shutdown in local bond markets and a paucity of state aid. Since concerns about the coronavirus pandemic hit the region, disbursement on revolving credit lines have risen to an average of 65% from a previous 10 percent, said a senior executive at one of the largest U.S. banks in Latin America, adding he expects it to reach 100% in the short term. Brazil's state-controlled oil company Petroleo Brasileiro SA has said it cashed out almost $9 billion from its revolving credit lines and Vale SA has drawn down $5 billion.
Image source: The Motley Fool. BRF S.A. (NYSE: BRFS)Q1 2020 Earnings CallMay 11, 2020, 9:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGood morning, ladies and gentlemen, and welcome to BRF's First Quarter 2020 Earnings Results Conference Call.
State prosecutors in Rio Grande do Sul filed a law suit to close two plants in Brazil's southernmost state for at least 15 days to contain the spread of the new coronavirus and protect factory workers, according to a statement on Monday. Rio Grande do Sul state prosecutors are seeking court permission to temporarily close a meat processing facility operated by BRF SA in the town of Lajeado and another plant operated by a non-listed meat-packing company in the same municipality.
* Argentina extends $65 bln debt deadline to May 22 * Brazil central bank to shower economy with money if depression * Emerging economies burn through $240 bln in reserves - BofA * Latam's second-largest carrier Avianca files for bankruptcy (Adds economists' comments, updates prices throughout) By Susan Mathew and Shreyashi Sanyal May 11 (Reuters) - Latin American currencies weakened on Monday, led by Brazil's real, while the Argentine peso dipped to new lows with negotiations over a $65 billion debt restructuring proposal extended as default risk loomed. Sentiment worldwide fizzled as some countries such as South Korea and China reported a second wave of the COVID-19 disease, while the number of new cases in places such as Brazil, Russia and Mexico still remained worryingly high.
* Goldman Sachs slashes Brazil, Mexico 2020 GDP forecasts * Argentina confirms first coronavirus case * Brazil's BRF sees 2020 "volatility," shares fall (Adds comments, updates prices throughout) By Shreyashi Sanyal March 3 (Reuters) - Most Latin American currencies rose on Tuesday, as the U.S. dollar sank after the Federal Reserve cut interest rates in an emergency move to help the world's largest economy fight the blow from a fast-spreading coronavirus. "What the Fed did today was certainly positive for emerging market assets because it takes away a very strong support that the dollar had, which is yields," said Sacha Tihanyi, deputy head of emerging markets strategy at TD Securities.
Brazilian food processor BRF SA has not stopped shipping meat products to China even amid congestion at some of that nation's ports related to the new coronavirus outbreak, the company said late on Friday, answering a query from Reuters. BRF said in a statement it is monitoring fallout from the outbreak and the flow of goods shipped to China "on a daily basis," noting cargo movements into Chinese ports are gradually being restored. Ships carrying refrigerated cargo containers of chicken from the United States to China were being diverted to ports in other countries, as Chinese ports ran out of space for refrigerated containers that must be plugged into electrical outlets once they are offloaded to keep frozen meat and other food products cold.
Brazilian meat processor BRF SA reduced its net loss in the first quarter of 2020 to 38 million reais ($6.63 million), compared to a loss of 1 billion reais in the same period last year, thanks to a rise in sales volumes and value. In a securities filing on Sunday, the company said it has increased net revenue by 21% to almost 9 billion reais, and volumes of food sold by 8%, to 1.1 million tonnes.