Brazil’s BRF, the world’s largest poultry exporter, is weighing the possibility of importing corn from the United States as local supplies remain tight, Chief Financial Officer Alexandre Borges said on Monday.
Brazil’s official biosafety commission CTNBio last week cleared the entrance into the country of certain varieties of U.S. genetically modified corn, paving the way for Brazilian poultry and pork processors to import it to feed animals.
“We are still evaluating (U.S. corn imports), but we see as a positive development the fact they opened up this possibility,” Borges told reporters after meeting investors and analysts in Sao Paulo.
BRF is still studying several aspects related to the import procedure, Borges said. But as the supply shortage continues in Brazil, the local poultry and pork industry is likely to import the U.S. corn, he said.
“We continue to see a tight supply in the short term. This window to buy U.S. corn could help to relief this tightness,” Borges said.