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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.

US meat and poultry organisations secure USDA funding

24-Apr-2014 - The US Meat Export Federation (USMEF) and The USA Poultry and Egg Export Council have been awarded significant funding for 2014 as part of the US Department of Agriculture’s (USDA) Market Access (MAP) and Foreign Market Development (FMD) Programs.

News in brief

McDonald’s Corporation reveals mixed results for first quarter

24-Apr-2014 - Revenue was up, but operating and net income down in McDonald’s Corporation’s trading update for the first quarter to 31 March 2014.

Poultry producer MHP sees significant increase in volumes

16-Apr-2014 - Ukrainian poultry producer MHP achieved a 30% year-on-year increase in overall production volumes of chicken meat in the three months to 31 March 2014.

News in brief

Cargill sees improving results in animal protein business

11-Apr-2014 - Cargill has reported a drop in net profit of 28% from $319 million in the third quarter to 28 February 2014, despite revenue holding steady at $32bn.

Danish Ministry presents proposals to cut pig meat plant costs

10-Apr-2014 - Denmark’s Ministry of Food, Agriculture and Fisheries has presented proposals which its minister Dan Jørgensen claims can help pigmeat exporters reduce processing plant costs and bolster competitiveness.

Romania plans to cut VAT on meat to 9%

07-Apr-2014 - Romania’s government is planning to lower the VAT on meat and processed meat products from the current rate of 24% to 9%, according to Liviu Harbuz, deputy head of the agriculture commission at the Romanian parliament.

Spanish government ignores recommendations to double taxes on meat products

01-Apr-2014 - The Spanish meat industry has said it is relieved by its government’s decision to ignore recommendations to double its sales tax (value added tax – VAT) on meat products, but the meat sector is still unsure how an upcoming tax reform will affect it.

Cherkizovo Group acquires LISKO Broiler company

28-Mar-2014 - Russian meat and fodder producer Cherkizovo Group has acquired poultry producer LISKO Broiler for approximately RUB5bn ($140m), in what has been touted as a significant event in the Russian meat industry.

JBS announces profit jump in 2013

28-Mar-2014 - Global meat company JBS has revealed net profits increased by 28.9% to BRL926.9m ($403.75m) in its full-year results for 2013.

News in brief

Danish meat plants react nervously to 6% wage rise

27-Mar-2014 - Leading Danish meat processing companies fear that a recently negotiated three-year wage agreement for workers in the industry threatens to erode producers’ already low margins.

News in brief

Thermo Fisher Scientific acquires animal health company

26-Mar-2014 - Thermo Fisher Scientific Inc has announced its acquisition of animal health diagnostics company Prionics AG.

Government investment pledged to Maple Leaf Foods

24-Mar-2014 - A CA$5 million investment package has been awarded to Maple Leaf Foods in order to purchase and install new meat processing technology.

Canadian meat exporters welcome South Korea trade deal

13-Mar-2014 - Canadian meat exporters have welcomed a Canada-South Korea free trade agreement, announced on Tuesday (11 March), saying it will boost trade and help them compete for sales in South Korea’s often wealthy markets.

Chinese pork firm benefits from diversity

07-Mar-2014 - Product diversification, driven by a need to match products to China’s expanding but extremely varied retail sector, appears to have been key to profits for 2013 at Chinese pork processor Shuanghui.

Romania’s poultry processor Transavia posts record sales, plans €10m investments

05-Mar-2014 - Romania’s leading poultry meat processor Transavia has announced record sales of €135m for 2013 and plans to invest €10m in expanding its meat processing capacities this year.

Danish Crown acquires total shares of Sokolów

05-Mar-2014 - Danish Crown has taken full ownership of Polish processed meat producer Sokolów, after acquiring the remaining 50% of its shares for around DKK1.3bn (€180m).

News in brief

Mariani Foods acquires UK dried meat manufacturer

03-Mar-2014 - Mariani Foods Europe has acquired UK dried meat business Bare Earth as it looks to expand across Europe.

News in brief

Maple Leaf reports sales decline for Meat Products

28-Feb-2014 - Maple Leaf Foods has seen sales in its Meat Products Group fall 1.1%, to $742.7 million, in the fourth quarter to 31 December 2013.

News in brief

US poultry firm reveals Q1 sales drop

27-Feb-2014 - US poultry processor Sanderson Farms announced a year-on-year sales drop of 1.8% to $584.9m, in its trading update for the first quarter ended 31 January 2014.

News in brief

US wholesale pork price predicted to rise 6%

27-Feb-2014 - Wholesale pork prices are predicted to increase 5.5-6.5%, according to the United States Department of Agriculture’s (USDA’s) latest Producer Price Index (PPI).

News in brief

Kerry Group achieves positive 2013 financial performance worldwide

27-Feb-2014 - Kerry Foods Group this week published a statement showing good growth worldwide in 2013.

News in brief

National Beef to close Californian site

26-Feb-2014 - The National Beef Packing Company is to close its Californian processing facility in April.

News in brief

Moy Park sponsors FIFA World Cup

19-Feb-2014 - Major UK food company Moy Park is named as one of the sponsors of the 2014 FIFA World Cup.

Guest article

Beyond the BRIC… looking to the MINT

14-Feb-2014 - Whenever the phrase ‘emerging’ economies is used, the acronym BRIC is usually quite close behind. However, on consideration, the BRIC markets have stepped beyond ‘emerging’ and are actually seeing a slowdown in the momentum of their growth. The gap left behind needs to be filled, so let me introduce you to the MINTs (Mexico, Indonesia, Nigeria and Turkey). Developed by the former Goldman Sachs economist, Jim O’Neill – the original creator of the term BRICs – the MINTs are set to be the new buzzword for emerging economies.

EU concessions on meat needed in US negotiations, says official

12-Feb-2014 - The European Union (EU) will have to make concessions on meat in its negotiations with the US for a Transatlantic Trade and Investment Partnership (TTIP), a senior European Commission official warned last night (Tuesday).

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