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China’s No 2 pork producer eyes expansion amid deadly outbreak of African swine fever

China’s second-largest pork producer says it will increase production this year despite a serious outbreak of swine fever, betting on reduced supply and surging prices to boost profits.A total of 112 cases have been reported in 28 of China’s 34 provinces since August, resulting in the cull of over 950,000 pigs. The virus has also been detected in Mongolia and Vietnam, according to the Food and Agriculture Organisation (FAO) of the United Nations.The disease is fatal to hogs but does not affect… Source link

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Pork producer WH Group calls for end of trade war, as 2018 profit drops 4 per cent

China’s WH Group, the world’s largest pork producer, called for an end to the US-China trade war on Friday, citing higher tariffs on US exports to China as one factor weighing negatively on its underlying business.The outbreak of the African swine fever and rising meat production in the US were also negative headwinds, the company said.Net profit for 2018 fell 4 per cent to US$1.05 billion, WH Group said in filing on Friday.Revenue was up 1 per cent to US$22.61 billion, slightly beating… Source link

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China 

China’s producer price index holds steady in February as deflation stalks economy

China’s producer prices were stable at a very low level in February, with the risk of a fall back into damaging deflation in the coming months hanging over the economy.Producer price inflation (PPI) edged up 0.1 per cent in February from a year earlier but was the same rate as in January, which was a 28-month low. The February result was below expectations of a rise to 0.2 per cent, according to a Bloomberg survey. As in January, the PPI eked out a tiny gain amid broad-based weakness in prices……

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China’s second largest dairy producer Mengniu Dairy says Indonesia expansion was fraught with hurdles

Mengniu Dairy, China’s second-largest dairy product producer, said it faced challenges in securing the supply chain for production when opening a new milk-based drink plant in Indonesia in November. Lu Minfang, chief executive of Mengniu Dairy, speaking at the official opening of the plant in Bekasi, located on the eastern border of the capital Jakarta, said it was an ordeal to secure raw materials and packaging needed to get the project into operation. “Indonesia lacks support for industries. It is not as good as more developed countries,” said Lu. “The…

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Vietnam 

KIDO acquires cooking oil producer Golden Hope Nhà Bè – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

KIDO products at a supermarket in HCM City. — VNS Photo Viet Nam News HCM CITY — Food producer KIDO Group announced on Thursday it has bought out Sime Darby’s 51 per cent stake in cooking oil producer Golden Hope Nhà Bè to become its sole owner. It did not disclose the price. KIDO, which earlier bought Tường An Vegetable Oil Joint Stock Company and Việt Nam Vegetable Oils Industry Corporation (Vocarimex), said the acquisition of Golden Hope is part of its plans to expand cooking oil…

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