Brazil: Gov't aims to save the poultry industry

The Brazilian government is considering extending a line of credit of up to $1.38 bln (3 bln reais) to rescue the country's struggling poultry industry.

This announcement was made recently by the country's Trade and Industry Minister Miguel Jorge, reports Reuters.

Brazil is the world largest beef and chicken exporter.

"We need to create a bridge," said Jorge, referring to a bridge loan to finance working capital for chicken slaughterhouses and producers. He went on to say that as many as 100,000 producers in the southern state of Santa Catarina were hardest hit by the global recession.