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UPDATE 1-Brazil food processor BRF posts Q2 net loss of 240 mln reais

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(Adds details from earnings statement)

SAO PAULO, Aug 12 (Reuters) - Brazilian food processor BRF SA on Thursday reported a 240 million reais ($45.68 million) net loss for the second quarter, as higher grain prices and the lasting effects of the pandemic weighed on the pork and chicken processor.

BRF, the world's largest chicken exporter, also said it burned more than 2.1 billion reais last quarter, citing higher financial expenses as part of the reason.

In Brazil, where BRF derives most of its sales, the company said the second quarter was as challenging as the first due to persistently high unemployment, loss of income and falling consumer confidence during the coronavirus pandemic, according to its earnings statement.

While the company was able to increase sales volumes and prices in its home market, BRF reported an almost 31% annual rise in the cost of products sold in annual terms.

Overall net margins turned negative at -2.1%, the company said, a slight improvement from the same year-ago quarter but significantly lower than in the preceding quarter, when it was 3.4%. ($1 = 5.2537 reais) (Reporting by Ana Mano; Editing by Leslie Adler and David Gregorio)