Just as picanha, the juicy Brazilian cut of steak, whets the appetite of denizens of Latin America’s biggest country, so do mergers and acquisitions for the Batista brothers, Josely, Wesley and José Batista Junior, who control the world’s biggest “protein” company.
After all, you don’t grow from being a butcher shop in the back of nowhere – that is, Anápolis, Goiás state (Brazil’s equivalent of the US Midwest) – slaughtering a couple of head of cattle a day to the world’s biggest beef exporter by shying away from deals.
The news from Ukraine is that it doesn’t matter which came first, the chicken or the egg, as long as you profit from both.
The country’s top poultry and egg producers, both leading blue chips listed on the London Stock Exchange, released impressive 2012 results on Tuesday.
So it was the toxic chicken accusations afterall.
Shares in Yum! Brands fell more than 5 per cent in aftermarket trading on Monday after the inanely-punctuated US owner of KFC, Taco Bell and Pizza Hut said China sales fell more than expected.
The US Commerce Department on Monday proposed to impose anti-dumping tariffs of up to 72 per cent on washing machines made by Samsung in Mexico.
But though Mexican officials refused to get into a lather about the threat, they ruffled US feathers on Tuesday by announcing that a Mexican inquiry has found that the US has been dumping some of the 250,000 metric tons a year of chicken legs and backs that it sends south of the border.