Brazilian Food Producers Slip Into The Red

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Three of Brazil's largest food producers have posted losses for the first quarter of 2009. Meat processor Marfrig booked a net loss of BRL38.2mn (US$18.3mn), frozen food specialist Sadia posted a loss of BRL239mn (US$115mn) and meat processor Perdigao reported a loss of BRL226mn (US$108mn). All three posted sizeable profits in the first quarter of 2008 and the decline in profitability has been attributed to a variety of factors, including a drop in export prices and rising finance