Brazilian meatpackers fall after China's move to curb beef imports

Jbs NV

02/01/2026 19:22

SAO PAULO, Jan 2 (Reuters) - Shares in Brazilian meatpackers fall on Friday after China announced additional tariffs on beef imports.

** Minerva BEEF3.SA plunges over 6% and MBRF MBRF3.SA declines more than 3% in mid-afternoon trading in Sao Paulo, while U.S.-listed JBS JBS.N is down more than 1%.

** On Wednesday, China announced a 55% tariff on beef imports that exceed certain quota levels from suppliers including Brazil, Australia and the U.S. in a move to protect its domestic industry.

** "Overall, we expect limited impact in the very short term - i.e., as long as exported volumes remain within the established quotas," analysts at Itau BBA write.

** "Minerva is the most exposed company to this week’s news, with about 15% of its revenues tied to China," they said, noting a rise in the company's exports to the U.S. could soften the impact.

** Minerva and MBRF declines are among the largest from stocks that are part of Brazil's benchmark index Bovespa .BVSP, which is down some 0.5%.

** The Brazilian stock exchange did not open on December 31 and January 1.

(Reporting by Paula Arend Laier in Sao Paulo; additional reporting by Andre Romani; Editing by Brendan O'Boyle)

((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))