Brazil lifts suspension of beef exports to China

[June 14, 2019]  SAO PAULO (Reuters) - Brazil's government said on Thursday it has lifted a suspension of beef exports to China after dealing with an atypical case of mad cow disease, sending shares of Marfrig Global Foods, Minerva SA and other Brazilian meatpackers soaring.

The suspension had been in effect since June 3 after a case was reported in a 17-year-old cow in the state of Mato Grosso. Cases can arise spontaneously in cattle herds, usually in animals 8 years old or older.

Tereza Cristina Dias, the agriculture minister, said on her Twitter account that Brazil would resume issuance of international health certificates to allow for beef exports to China.

Marfrig, whose shares jumped 5% after the announcement of the end of the suspension, said in a securities filing that the government's issuance of these certificates had been normalized on Thursday.

Shares of rival Minerva also rose 3% in São Paulo.

China is the only country among Brazilian importers that enforces a health protocol requiring suspension of beef imports when an atypical case of mad cow disease is reported, Brazil's agriculture ministry said in a statement.

The ministry reiterated the Brazilian government's intention to negotiate a new health protocol with Chinese authorities to address the issue.

(Reporting by Ana Mano; Editing by Dan Grebler and Paul Simao

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