Emerging countries such as Brazil found a significant space to expand meat exports during the last decade but a heavyweight competitor, the U.S., will be gaining international competitiveness in the sector in coming years because of the steep depreciation of the U.S. dollar against other currencies.
The statement belongs to Wesley Mendonca Batista, CEO of Brazil’s JBS, the largest global beef exporter and second in chicken meat, which currently has most of its turnover in the U.S.
If the U.S. dollar is a factor to be taken into account by South American exporting companies, it will certainly benefit the U.S. branches of Brazil’s JBS.
“With the size of the U.S. budget and trade deficits, the U.S. dollar will continue to lose value against other currencies for quite some time. In the coming 20 years, the U.S. will be back competing aggressively with the emerging countries of the world in the production of all commodities,” anticipates Batista.
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