Brazil-Government poultry bail out.

BRAZIL-POULTRY BAIL OUT.

The Brazilian government said it is considering extending a line of credit of up to $1.38 billion to bailout the country’s struggling poultry industry, Trade and Industry Minister Miguel Jorge told Reuters.

Earlier this month, Sao Paulo rescued Brazil’s troubled beef industry. Brazil is the world largest beef and chicken exporter.

"We need to create a bridge," Jorge is quoted as saying, referencing a bridge loan to finance working capital for chicken slaughterhouses and producers.

Jorge said about 100,000 poultry producers in the southern state of Santa Catarina have been the hardest hit by the global recession.