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Financial

Money makes the world go round and the meat industry is no different. Deals are always being brokered and currency fluctuations are a key issue for any global meat trader.

News in brief

Tyson recruits extra staff following investment

US meat giant Tyson Foods is to take on approximately 90 additional workers at its poultry plant in Robards, Kentucky, as a result of investment at the facility.

UK coatings firm announces gluten-free investment

Bowman Ingredients is to make a multi-million pound investment in what it claims is the UK’s first dedicated production facility for gluten-free crumb products.

Beef prices weaken during first third of year

Global beef prices have weakened during the first four months of 2015, following a period of record high prices. However, it’s unlikely prices will continue to fall as beef supply...

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Philippines hopes to lift meat exports with new plants

Two new publicly funded meat processing facilities being built in the Philippines are due to be completed within the year, with the aim of helping to boost meat exports from...

Price rises expected for Poland’s poultry meat as consumption grows

Poland’s consumption of poultry meat is expected to reach 28kg per capita this year, up 1.8% compared with 2014, as indicated by data released by the country’s state-run Institute of...

Arguments on meat industry taxation continue in Ukraine

Ukraine may face a rapid drop in meat production if the country’s government decides to cancel benefits on VAT for livestock producers, according to market participants.

Lamb prices decline in China

A glut of local and imported supply has caused Chinese lamb prices to fall this year, with the current retail price of RMB50/kg, down 10.7% year-on-year according to pricing data...

Marfrig’s Moy Park subject of sale to JBS

Brazil-based Marfrig Global Foods is to sell poultry business Moy Park Holdings Europe to fellow food giant JBS SA, for approximately US$1.5bn.

Canada and USA back at WTO over COOL

The World Trade Organisation (WTO) has once again been asked to arbitrate over the dispute between Canada and the US over American country-of-origin labelling (COOL) for meat and livestock products.

NZ meat marketing initiative ditched

A dispute over money has led to the scrapping of a proposed meat marketing campaign in New Zealand which has been in development for the past two years.

Smithfield eyes Europe expansion after Campofrio sale

Smithfield Foods executives have said their company plans to push sales of its own products strongly in Europe, now that its parent, the China-based WH Group, has announced the sale...

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Huge profit rise for Zambian agribusiness firm

Zambian agribusiness Zambeef Products has seen a 56% rise in profits during the first half of its financial year, boosted by sales in its core meat business.

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Vion to focus on Bad Bramstedt site

Vion, the Dutch food company, is to concentrate its North German cattle slaughtering at its production location in Bad Bramstedt. 

MHP releases plans for large-scale poultry production increase

Ukraine poultry giant MHP has unveiled large-scale five-year expansion plans. 

McDonald’s responds to sales decline

McDonald’s has launched a turnaround plan to fight falling sales across the business. 

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Danish Crown subsidiary takes majority stake in Swedish slaughterhouse

Danish Crown subsidiary KLS Ugglarps AB has agreed a deal to take a majority stake in the slaughterhouse Dalsjöfors Slakteri near Borås in Sweden. 

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Brussels ponders Dawn Meats’ French deal

Irish processor Dawn Meats’ offer to buy 49% of French cattle and beef company Elivia is being examined by the European Commission, which must give the deal competition approval for...

Northern China to see significant investment in poultry sector

Six of China’s biggest poultry players have combined forces to open a huge RMB6 billion chicken breeding and processing project in northern China.

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Brazilian beef prices see annual fall

Excess supply and the fall of the Brazilian real against the US dollar has forced Brazilian beef prices down by 13% year-on-year, making exports more competitive, according to UK-based commodities...

Investment expected for Ghanaian poultry industry

The Ghanaian government is to deliver on its promise plough GH¢39m (£6.1m) into its poultry industry, to help create jobs and stimulate growth in the sector, said Deputy Minister of...

Danish Crown increases profits despite challenges in Europe

Profits at Danish Crown have increased by 28% in the first half of the 2014/15 financial year, due in part to the takeover of the remaining 50% of leading Polish...

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Investment announced for Canadian poultry sector

The Canadian agriculture department has announced it will plough nearly $185,000 into improving conditions in which livestock and poultry are transported.

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Leading Russian poultry producer announces favourable financials

Cherkizovo Group, Russia’s largest meat and feed producer, has announced strong double-digit growth in both sales and profits in the first quarter of 2015.

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Hormel Foods predicts turkey sales fall

Hormel Foods said it expected sales of its turkey products to fall around 15% in the second half of the year, due to a supply shortfall caused by an avian...

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Controlling stake in major French poultry exporter set to be sold

Agricultural co-operative Terrena is in exclusive talks to buy a controlling stake in Doux, France’s largest poultry exporter.