Seara focuses on transfer of high grain prices in the 3rd quarter
SAO PAULO (Reuters) - JBS's Seara unit is focused on passing on third quarter grain cost increases that impacted its operations in Brazil in the second quarter and which should continue ...
SABS (Reuters) - JBS's Seara unit focuses on passing third-quarter grain cost increases that impacted its operations in Brazil in the second quarter and should continue to weigh on the company's numbers in the coming months, group executives said of food this Wednesday.In the second quarter, Seara raised prices by 3 percent on average and JBS South America President Wesley Batista Filho said during a conference call with analysts that he sees a need for a 7 percent increase in the third quarter."About grain, we see that it will continue to be a major challenge in competitiveness and the focus is price transfer," said the Executive.The comment is similar to that issued by rival BRF, which last week said it will maintain a policy of "price adequacy" of processed products in the third quarter because of high grain costs.Equities were up about 3 per cent around 11am, while the Ibovespa was down more than 1 per cent.The company reported on the night before the end of the second...
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