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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.

Maple Leaf Foods’ sales fall over quarter

Maple Leaf Foods, the Canadian meat processor, has reported a drop in sales from last year of 1.3% to $820.8 million for its second financial quarter to 30 June, 2015.

Russia’s Cherkizovo reports pork sales hit by African Swine Fever

The largest integrated meat processor in Russia, Cherkizovo, has reported increased sales in its poultry and meat processing division in the first half of 2014, but a decline in sales...

ABP's Irish plant creates 152 jobs

The opening of the upgraded €50 million food processing facility for ABP Food Group in Cahir, Tipperary, Ireland, should generate more than €1 billion to the Irish economy over five years.

Collagen deal boosts sausage casings firm's EU strength

Sausage casings firm Devro's acquisition of 100% of the shares of the Dutch collagen manufacturer PV Industries (PVI) will boost its “presence and authority” in Europe, a top UK food industry analyst...

US state beef bodies gain funding

Seven state beef organisations across the US have been awarded grants to help promote beef to consumers.

News in brief

Australian cattle firm steps back from acquisition

The Australian Agricultural Company (AAco) has revealed it will not be bidding for the S. Kidman and Co portfolio.

US bacon giant extends repertoire with $170m investment

SugarCreek, the largest independent processor of bacon in the US, is investing $170 million in two new facilities, including what it claims is the nation’s largest sous vide line. 

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Management buyout for Dutch ingredients firm

The management of Netherlands-based ingredients firm Vaessen-Schoemaker has acquired the majority holding of the Schoemaker family.

Smithfield Romania pumps €54m into pork production

Pork producer and processor Smithfield Romania has acquired a US$60 million (€54m) investment loan to finance expansion plans in the Romanian market.

Marfrig reveals progress on sustainability

A pledge to end slave labour in the supply chain and increased use of biomass energy production are among the areas covered in Marfrig Global Foods’ 2014 annual sustainability report. 

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Memphis meat firm enters frozen food market

US-based Monogram Foods, the processed meat manufacturer, has lodged a successful bid for Golden County Foods in Wisconsin, a frozen appetiser business.  

Sanger Australia merger comes amid cattle trading boom

Bindaree Beef, the Inverell-based Australian meat processor, has merged with marketing and logistics company Sanger Australia.

Premium Brands buys US sausage-maker Isernio’s

The acquisition of US sausage brand Isernio’s has been announced by global speciality food business Premium Brands Holdings Corporation.

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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.