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Category: Global Economy

Swine Disease Crisis in China
Pork crisis sparks China inflation fears
— by Richard McGregor in Beijing & Jamil Anderlini in Hong Kong

A disease killing millions of pigs in China has sharply lifted the price of pork, the country´s staple meat, fuelling fears about inflation and prompting calls from Beijing´s top leadership for increased production of the meat.

Wen Jiabao, the premier, provided confirmation of the seriousness of the crisis with a weekend visit to a market in Shaanxi, where he said farmers should help “resolve the problem” of providing meat for China´s 1.3bn… Read the rest

 

Brazil Packer buys Swift

Brazil´s leading beef processor and exporter has purchased Swift Foods Co., the third largest U.S. processor of beef and pork, for $1.4 billion.

Brazil´s JBS S.A., which controls leading beef exporter Friboi, announced the acquisition of Swift Foods Co., the third largest U.S. processor of beef and pork, for $1.4 billion, JBS said Tuesday in a statement.

The acquisition must be approved by local authorities and JBS said it expects to conclude the deal by July.… Read the rest

 

Korea rejects 66 Tons of U.S. Beef

SEOUL, June 4 Asia Pulse – South Korea will send back 66.4 tons of U.S. beef that failed to meet the country´s import requirements, the government said Monday.

The beef that will be sent back was processed for the American market and not meant for export,” a press release by the Ministry of Agriculture and Forestry said. It said Seoul plans to ban further imports of beef from Tyson Foods Inc.… Read the rest

 

Boxed Out
— by Lee Pitts

When a lawyer representing the cattlemen suing IBP for unlawful use of captive supplies explained to Don Tyson that, if successful, the lawsuit could cost Tyson more than what he paid for IBP, the chicken man is said to have responded: “You should be suing Wal-Mart [instead of IBP], they are the problem. They tell us what they will pay and we have no choice but to pay you less.”

As hard as this is to admit .

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