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Brazil Property News: Brazilian beef boom
5th September 2008 07:00
The Brazilian beef export market is booming thanks to prices increasing by half, it has been reported.
Beef exports have fallen 22 per cent year-on-year last month but still commanded an 18 per cent rise in value due to the cost of the food, according to the Brazzil Magazine.
Those considering buying property for sale in Brazil could be interested to hear the news which hints at economic buoyancy in the nation.
According to the report, exports have been affected by an appreciating local currency as the Brazilian real has gained strength of 22 per cent against the US dollar compared to the same time last year.
The report adds that Fray Bentos has refurbished an abattoir to begin production of cooked beef for the British market.
"We've already begun contracting personnel and cattle should begin arriving in the next few weeks. Later we will target the US market," plant manager Julio Bonizzi told the website.
Meanwhile, it was reported by the New York Times last month that the Latin American nation is helping its famers reap record food prices.
Farmer Luciano Alves told the newspaper his government is helping the nation's agricultural sector by aiding in the purchase of new machinery.
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