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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.

Meat processor BRF posts drop in profits

Brazilian food processor BRF posted a near-quarter drop in pre-tax profits as the soaring price of corn dented pork and poultry operations.

Pilgrim’s Pride looks to diversify following poor second quarter

Pilgrim’s Pride has posted a decline in sales and margin for the second quarter of the year. 

ConAgra cuts the fat with double divestment

US food company ConAgra has sold two of its subsidiaries, JM Swank and Spicetec Flavors & Seasonings, generating nearly $500m from the deals. 

Polish chicken processor plans 'major investment'

Polish chicken processor and feed producer Wipasz is planning to build a new meat processing plant in Miedzyrzec Podlaski, eastern Poland.

Atria’s profits rise despite tough competition

Scandinavian meat processor Atria has seen pre-tax profits rise marginally, according to half-year trading figures posted on 21 July.

HKScan reports drop in profits

Finnish meat processor HKScan has posted a slump in pre-tax profits, according to its interim trading results for the first half of 2016.

MHP: Middle East boosts poultry growth as it expands there

Ukraine’s MHP has reported growth in poultry production, with sales reinforced by a robust export upswing to the Middle East in its preliminary half-year results, posted on 19 July. 

FAO: Global price of meat up

The price of a shopping basket of meat products increased for the third month in a row, according to the Food and Agricultural Organisation’s (FAO) Meat Price Index.

Romania’s Avi-Top invests €3m to grow poultry breeding capacity

Romanian poultry meat processor Avi-Top plans to invest more than €3m to boost its poultry breeding capacity by the end of 2016, according to senior company representatives.

Cargill to offload cattle feedlots to Friona Industries

Friona Industries is poised to snap up Cargill’s feedyards in Bovina and Dalhart, Texas, with the US meat processor planning to raise funds for investment across North America.

Beef prices up after ISIS cafe attack

Prices of beef in Bangladesh increased more than 7% after a terror attack on a Dhaka café, which so-called Islamic State claimed responsibility for. 

Bernard Matthews sells German turkey arm

Turkey processor Bernard Matthews has sold its German subsidiary Oldenburg to Sprehe Group for €14m as the UK business sounds out a new buyer.

Meat Market Cooperative receives $3m grant

New York City councillors have awarded Meat Market Cooperative (Co-Op) a cheque for $3.45m to help the world’s largest meat distribution centre install emergency power generators. 

Konspol to invest in international meat plants

Polish poultry meat processor Konspol plans to channel up to €57m (PLN 250m) into building a number of foreign meat processing facilities.

News in brief

BRF spin-off creates halal unit

Brazilian meat processor BRF has announced plans to set up a subsidiary tasked with strengthening the meat giant’s supply of meat to Muslim consumers.

Atria pumps millions into Lagerbergs brand

Finnish meat processor Atria plans to invest significantly in Lagerbergs to boost production and implement sweeping improvements to the company it acquired in April.

Danish Crown welcomes SPF-Danmark takeover

Danish Crown has welcomed the strengthening of its distribution system through the acquisition of livestock transporter SPF-Danmark, after it bought out pork producer Tican’s 10% stake.

Meat firm fined €16,000 for fake beef labelling

Ireland's Keelaghan Wholesale Meats has been fined €16,000 for falsely declaring beef imported from Poland, Lithuania and Germany was of Irish origin. 

Profits ‘lower than anticipated’ for livestock shipper Wellard

Wellard Ltd, one Australia’s foremost livestock transporters, is braced for a drop in earnings, with the high price of cattle expected to dent full-year trading figures.

Pakistan cuts duty for meat industry equipment

The Pakistan government has reduced custom duty on machinery imports used in the livestock and meat industry from 5% to 2% to encourage investment in the meat industry.

News in brief

Atria to buy majority stake in Kaivon Liha

Finnish meat processor Atria eyes further expansion in its native land with plans to acquire a majority holding in the kebab and burger manufacturer Kaivon Liha.

Danish Crown cleared for SPF takeover

Danish Crown is free to complete the takeover of SPF-Danmark after the European Commission ruled the acquisition does not break competition rules.

Europe pushes for action on unfair trading practices

EU rules preventing producers' exploitation by retailers and wholesalers must be introduced, a European Parliament resolution has urged.

Huge profit growth for Zambeef

Aggressive expansion across West Africa has resulted in soaring profit growth for Zambeef, but extremely strong foreign exchange headwinds have troubled analysts.

Pilgrim’s Pride investment creates 155 jobs

Pilgrim’s Pride has announced plans for a multimillion dollar expansion of its poultry processing facility in Kentucky, leading to 155 new jobs.

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