Brazil's second largest meat processor faces dismal quarter

BRAZIL - Brazil's second largest poultry and pork processor Perdigao reports that net income for the quarter has plunged 85.5 percent to 10.4 million real (US$4.8 million), compared to the same period last year.
calendar icon 17 May 2006
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Export volumes were down 8.4 percent on-year due to the decline in the consumption of poultry as a result of bird flu in Europe and the Middle East, according to a news release.

With an oversupplied international market, average prices fell 15.7 percent, resulting in a 22.8 percent drop in export revenues.

Pork exports were also affected by the Russian ban at the end of December 2005, following outbreaks of foot-and-mouth disease in the states of Mato Grosso do Sul and Parana.

The ban resulted in a 10.3 percent drop in pork export volumes.

Although domestic sales volume increased 13.8 percent, weaker exports led to an abundance of supply which depressed prices by 7.6 percent.

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