FAIRR’s top news picks
Cargill to Sell China Poultry Business as Meat Margins Fall
Bloomberg | 31 May 2023
Cargill, a Minnesota based food giant, is selling its poultry farming and processing business in China due to lower demand and high costs in the market. Animal feed costs are increasing due to high grain prices and consumer demand is weaker than expected as China recovers from Covid. Other meatpackers are also struggling with thinning margins whilst inflation is suppressing demand globally.
Brazilian Banks Urged to Crack Down on Meatpackers Tied to Deforestation
Reuters | 31 May 2023
A new scheme urges Brazilian banks to ask meat processors in the legal Amazon and Maranhao regions to implement a traceability system demonstratingthat their cattle purchases do not come from areas of illegal deforestation. A trade group representing global beef-packers including JBS and Marfrig expressed support for such initiatives but stated that environmental compliance should be demanded from all customers, including farmers.
River Wye Health Status Downgraded Due to Animal Farming Pollution
The Guardian | 30 May 2023
River Wye continues to suffer from farming pollution as wildlife charities accuse the government of failing to adequately address the issue. The status of the river was changed from “unfavourable-improving” to “unfavourable-declining”, meaning its condition is poor and getting worse. One of the reasons – intensive chicken farming on the catchment. Poultry manure enters the river from land, causing phosphorus pollution and killing aquatic species.
Graph of the Week
Source: Bloomberg
More Food for Thought
Saudi Arabia Amps up Global Food-Security Push With Brazil Poultry Deal | Tatiana Freitas | Bloomberg
FAIRR’s Protein Pulse is a weekly collection of news articles related to the food sector that may be of interest to our members. FAIRR does not necessarily endorse the views of these news articles and assumes no responsibility for any errors or inaccuracies found in third-party content.