The loans to JBS and Marfrig were commercial decisions, made by the bank's commercial arm, at commercial rates.

ECONOMIST: Brazil's development bank

Moy Park's parent company, the Brazilian-based Marfrig group, moved back into profit in 2012 after some difficult years of trading.

BBC: Rising grain prices slash Moy Park profits

Others may go to the beef companies that are trying to diversify, mainly the publicly traded majors like Marfrig and JBS Friboi.

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