January 30, 2020 / 9:40 PM / 23 days ago

Brazil antitrust regulator opens probe into meatpackers JBS and BRF

BRASILIA, Jan 30 (Reuters) - Brazil's antitrust regulator Cade on Thursday opened an investigation into meatpackers JBS SA and BRF SA, according to a decision signed by the agency's superintendent.

The decision said it launched the probe based on an article in Brazilian newspaper Valor Economico that describes executives of the two companies saying in an event in Sao Paulo that they would pass on a 30% rise in corn costs to customers through prices hikes on their products. (Reporting by Ricardo Brito Writing by Jake Spring Editing by Chris Reese)

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