Headquartered in Itajai, Brazil, BRF S.A. (BRFS) is the world’s largest chicken exporter. The company is one of the largest publicly traded concerns in Brazil. However, BRFS’ shares have been under pressure since last year due to rising meat costs, import embargoes, and domestic instability. In addition, declining per capita income and rising unemployment in Brazil have impacted BRFS’ operations.
For the better part of last year, China and Russia had embargoes and bans on meat imports from Brazil, which affected BRFS’ profit margins. Furthermore, several European countries boycotted Brazilian brands, including BRFS, in protest of the nation's deforestation of the Amazon rainforest.
