Brazilian Meat Giants Rush to Contain Scandal
- JBS, BRF launch massive media campaigns to stave off impact
- Police investigating evidence of bribes, tainted meat
Customers buy meat from at a butchery stall inside a market in Sao Paulo, Brazil, on Saturday, March 18, 2017.
Photographer: Victor Moriyama/BloombergThis article is for subscribers only.
Food giants JBS SA and BRF SA took out full-page newspaper ads and paid for prime-time television spots to reassure consumers their meat is safe to eat after finding themselves at the center of Brazil’s latest corruption probe.
Both companies saw their share prices tumble for a second day after federal authorities announced March 17 they’re investigating evidence producers bribed government officials to approve the sale of spoiled meat. China and South Korea temporarily suspended some imports of Brazilian meat and the European Union said it was monitoring the situation.