* China has announced that it will be cutting down on Brazilian meat imports. The reasons for this are unclear. However, Brazilian meat sellers may face increased competition in China after the Asian country recently allowed US meat imports for the first time in 14 years. There is also speculation that Brazilian meatpackers may be suffering reputational damage from the scandal uncovered by ‘Operation Weak Flesh’, which lifted the lid on a corruption ring by which leading Brazilian meatpackers allegedly paid bribes to government officials to allow them to sell insanitary meat products. Demand for Brazilian meat products is also lower in Hong Kong and Kuwait compared to this time last year.
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