JBS S.A. (JBSS3.SA)
- Bloomberg
Consumers Unwilling to Pay Up for Sustainable Food, JBS Says
(Bloomberg) -- Consumers are unwilling to pay a premium for food that is produced under higher environmental standards, posing a challenge for producers, according to the top executive at the world’s largest meat company. Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisChicago Halts Hiring as Deficit Tops $1 Billion Through 2025World's Second Tallest Tower Spurs Debate About Who Needs ItUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusThe Plan for the
- Associated Press Finance
Judge in Brazil orders slaughterhouses to pay for Amazon reforestation
A judge in the Brazilian state of Rondonia has found two beef slaughterhouses guilty of buying cattle from a protected area of former rainforest in the Amazon and ordered them, along with three cattle ranchers, to pay a total of $764,000 for causing environmental damage, according to the decision issued Wednesday. It is the first decision in several dozen lawsuits seeking millions of dollars in environmental damages from the slaughterhouses for allegedly trading in cattle raised illegally in a protected area known as Jaci-Parana, which was rainforest but is now mostly converted to pasture.
- Reuters
UPDATE 1-Brazil's JBS shares soar after strong quarterly results
Shares of Brazil's JBS SA rose 7% in early morning trading on Wednesday after the world's largest meatpacker reported strong first-quarter results in spite of headwinds faced by its large U.S. beef business. JBS executives said they continue to see reduced cattle availability in the United States and demand constrained by higher beef prices in its biggest market. At the same time, JBS is positive on the outlook for its chicken export business as demand is heating up globally and grain prices have subsided.
