Poultry Sector Back In Positive Territory

BMI believes Brazil's poultry sector will continue its return to growth after a poor 2008/09 season, both in terms of total output and exports. That year, production decreased 0.5% year-on-year (y-o-y) and the value of exports fell, forcing producers to trim costs wherever possible. However, the sector is rebounding in 2009/10, buoyed by the fact that the value of exports in Q110 increased by 18% y-o-y. We expect Brazilian poultry production overall to increase in 2009/10 to 11.5mn tonnes and forecast moderate growth over the medium term, largely driven by increasing export opportunities in the Middle East - already a

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