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JBS Struggling To Sell Argentine Beef Plants

JBS, the world's top beef producer, could struggle to sell three of its Argentine plants due to government policies that have depleted cattle stocks and hurt profits, a trade group said.

JBS, the world's top beef producer, could struggle to sell three of its Argentine plants due to government policies that have depleted cattle stocks and hurt profits, a trade group said.

"It will take four to five years to recover the volume of cattle needed to meet domestic and export demand," said Miguel Schiariti, president of Argentina's Meat Industry and Trade Chamber (CICCRA). He said the business would remain unprofitable for several years because of government policies.

JBS, based in Sao Paulo, Brazil, told Brazilian regulators that it may sell some of its eight Argentine slaughterhouses because of "scarce livestock and export restrictions."

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