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Brazil's JBS invests 45M reais in plant expansion

Brazilian meat processor JBS SA invested 45 million reais in expanding two domestic plants in response to strong Chinese demand for imported beef, Reuters reported Oct. 9, citing a company announcement.

The funding is expected to double production capacity at two of JBS' plants in the state of Minas Gerais, the report said.

Renato Costa, chief of JBS Brazil's beef division, reportedly said 2018 exports to China rose 125% year over year.

As of Oct. 9, US$1 was equivalent to 3.74 Brazilian reais.