According to a study by the Brazilian Poultry Union (UBABEF) and Agro.Icone, Brazil has lost $1.650 billion as a result of losing market share to competitors. In 2008 Brazil’s share of the global poultry sector was 39%. Within four years Brazil’s share fell to 37% in the face of growing competition and high labor and manufacturing costs. CEO of the Brazilian Poultry Union, Francisco Turra states that Brazil needs to modernize and automate the industry. Despite this slide, Brazil will remain the world’s largest exporter of chicken, largely due to its easy access to corn and soybeans and favorable exchange rates.
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