Brazil is still unable to EXPORT beef to CHINA because the Asian giant does not want to lift a veto imposed on the import of Brazilian MEAT due to two atypical cases of mad cow disease confirmed on September 4 in Minas Gerais and Mato Grosso.
The right of veto, which was originally 45 days and follows existing commercial protocols between the two countries, has implications at all levels. According to O Globo, who cited an internal memo from the Ministry of Agriculture, Brazil has decided to partially halt production because China is taking too long to lift the ban.
The good news for Brazilian consumers is that domestic meat prices have fallen - a kilo of beef is now worth 19.18 reais in the Sao Paulo wholesale market, the lowest price since February.