Brazilian meat suppliers stop deliveries to local Carrefour retailers, media say
By Ana Mano
SAO PAULO, Nov 24 (Reuters) -Brazilian meatpackers have reportedly stopped supplying meat to the Carrefour CARR.PA group in Brazil after the retailer's global CEO vowed to keep South American meat off its shelves in France in solidarity with French farmers, according to local media reports that cited anonymous industry sources.
One of the reports said the interruption in meat supplies has already affected 150 stores of the retailer in Brazil, naming JBS JBSS3.SA and Marfrig MRFG3.SA among the companies which allegedly interrupted deliveries.
Carrefour dismissed the reports as "unfounded."
The French retailer told Reuters on Sunday that meat supplies are normal at its local stores, denying any shortages and calling the reports "misinformation."
Meat lobby ABPA, which represents large Brazilian pork and chicken processors, did not have an immediate comment.
JBS and Marfrig declined to comment.
Beef industry group Abiec did not confirm the interruption of supplies, referring to a previous statement last week in which it called Carrefour's plan to ban South American meat as "contradictory."
Abiec said Carrefour Brasil CRFB3.SA operates 1,200 stores in the country that sell mostly domestic beef.
Brazil's government also blasted Carrefour CARR.PA for the plan to ban South American meat. Brazilian Agriculture Minister Carlos Favaro called the pledge part of an "orchestrated action" by French companies to sabotage the trade pact between the European Union and Mercosur nations.
In a social media post addressed to leaders of France's farm lobbies, Carrefour's CEO Alexandre Bompard said the EU-Mercosur deal presented the "risk of meat production spilling over into the French market (and) failing to meet its requirements and standards."
"Carrefour's adoption of a protectionist stance in defense of French farmers undermines its own business and exposes the European market to shortage risks," Abiec said in reaction to Bompard's post.
Reporting by Ana Mano; Editing by Paul Simao
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.