Carrefour opposition to EU-Mercosur trade deal sparks backlash in Brazil [Yahoo! Finance]
MARFRIG GLBL FOODS S/ADR (MRRTY)
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Source: Yahoo! Finance
The French retailer has pledged not to source meat from the Mercosur trading bloc, prompting Brazilian industry groups to threaten to stop supplying Carrefour stores with meat in their home markets. The Brazilian Ministry of Agriculture and Livestock has rejected Bompard's statements, defending the quality and safety of Brazilian products, and some meat packers in Brazil have chosen not to supply local Carrefour stores in response. Carrefour's opposition to an EU-wide free trade deal with the Mercosur trading bloc and the prospect of a flood of meat imports has kicked off a backlash in Brazil. Alexandre Bompard, the CEO of the French giant, has come out in support of protesting French farmers and the wider local agriculture sector, issuing a letter on LinkedIn last week pledging not to source meat from the trading group. France's President Emmanuel Macron is also opposed to an EU free trade deal under current terms still being negotiated, with his and Bompard's concerns centred
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