JBS has done it again. Today, Meatingplace reports the Brazilian meatpacking giant’s South American arm has secured a deal to sell over $700 million dollars worth of beef, pork, and poultry to China per year under its Friboi and Seara brands out of Brazil. “This agreement reflects the maturity and evolution of our trade relations with China,” said Renato Costa, president of Friboi. “It will be an opportunity for us to evolve in our supply chain in an Read More …
Brazilian class action lawsuit against corrupt meatpacking behemoth JBS lays out the undisputed evidence that through bribing over 1,800 Brazilian politicians, JBS was able to take over U.S. Swift Food, U.S. Smithfield beef group, and Pilgrim’s Pride, launching their takeover of the U.S. meat processing industry and becoming the world’s leading meat processor. The lawsuit demands JBS restore to the Brazilian public nearly a billion U.S. dollars of its ill-gotten gain. Meanwhile, U.S. officials have forked over yet Read More …
Brazilian prosecutors agree with OCM’s position that meatpacking giant JBS is guilty of fraud that led to illegal loans from Brazilian state development bank BNDES. Through bribery, JBS secured the necessary funds to go on a spending spree buying up 40 rivals on four continents, including the U.S. JBS has admitted that but for these fraudulent loans, it wouldn’t have been able to take over the U.S. beef market. Now Brazilian officials are demanding $5 billion in damage Read More …
JBS Used Illegal Activity to Profit and Take Over the U.S. Beef Market From a small butcher shop in Brazil, JBS has become the world’s largest meat processing company and a dominant force in America’s food industry, and much of its growth is the result of illegal activity. JBS Bribed Brazilian Officials for Government-Backed Loans to Fuel Growth In a decade-long scheme, the meat processor bribed more than 1,800 Brazilian politicians to secure Brazilian government development loans, which Read More …
As reported today in Meatingplace, “U.S. Sens. Marco Rubio (R-Fla.) and Bob Menendez (D-N.J.) sent a letter to Secretary of Treasury Steven Mnuchin requesting that the Committee on Foreign Investment in the United States (CFIUS) formally open a review of the transactions of Brazilian meat-processing conglomerate JBS S.A.” Angela Huffman, Communications and Research Director for the Organization for Competitive Markets (OCM), offered the following statement: “The corrupt actions of JBS demonstrate the epitome of unchecked monopoly power. JBS Read More …
On Tuesday, May 14, Congresswoman Rosa DeLauro (CT-03) filed the Buy American Agriculture Act (H.R. 2712) to stop the U.S. Department of Agriculture (USDA) from lining the pockets of global corporations at the expense of U.S. taxpayers and family farmers. The legislation was filed as the result of USDA’s announcement that it continues to provide millions of dollars in financial assistance to a Brazilian transnational corporation, JBS, through the bailout program established to assist America’s family farmers devastated Read More …
Greeley Tribune By Trevor Reid The U.S. Department of Agriculture plans to purchase $22.3 million of pork from Greeley-based JBS USA, which is owned by JBS SA, a Brazil-based company. The purchase is part of a bailout program intended to provide aid to U.S. farmers negatively impacted by the international trade war. In November 2018, Smithfield Foods, owned by a Chinese firm, pulled its bid for $240,000 in pork payments after Sen. Charles Grassley, R-Iowa, echoed criticisms that Read More …
Update: It is now reported that USDA will award 22,331,309 to JBS under the bailout program, rather than the $5 million previously reported. See the USDA Purchase Award Description here. It has been reported that the U.S. Department of Agriculture (USDA) will award $5 million in U.S. taxpayer funds to Brazilian-owned meatpacking corporation, JBS, under the bailout program meant to help American farmers hurt by the trade war. In November 2018, Chinese-owned Smithfield Foods rescinded its bid for bailout money after a backlash Read More …
