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WH Group Announces 2020 Interim Results 

WH Group Limited announced the unaudited consolidated interim results of the Company and its subsidiaries for the six months ended June 30, 2020.

Highlights

• Revenue increased by 12.2% to US$12,481 million
• Operating profit increased by 20.9% to US$925 million
• Profit attributable to owners of the Company, before biological fair value
adjustments, increased by...

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Aug 12 8:51 AM, General News



ANALYSIS: Stairs Going Up, Elevator Going Down

While 2020’s chicken market has certainly had its fair share of ups and downs recently, it has also brought with it...

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Aug 7 8:24 AM, Urner Barry


Yum China Reports Second Quarter 2020 Results

Yum China Holdings, Inc. reported unaudited results for the second quarter ended June 30, 2020.

Impact of COVID-19 Outbreak and Mitigation Efforts

Second quarter operations improved since the COVID-19 outbreak. More than 99% of stores in China are now open, with sales and profits trending unevenly. Sales improved sequentially in April and May but softened in June. Sales were primarily impacted by significantly reduced traffic at transportation and tourist locations, delayed and shortened school holidays and resurging regional infections. These factors and the lingering effect of COVID-19 continue to...

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Jul 31 8:20 AM, General News


Rabobank Pork Quarterly Q3: More Uncertainties Ahead 

Covid-19 brings many uncertainties to the global pork market. With various disruptions to the supply chain, Rabobank has revised down pork production for 2020 in major producing countries.

“Labor shortages, operational suspensions, soft demand, and channel shifting will force industry players to increase automation, adopt digitalization, improve plant working conditions, streamline processing, and integrate along the supply chain in order to...

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Jul 28 8:31 AM, General News


ANALYSIS: Turkey Exports in May: A Sign of the Times

Closely aligned with the real-world trade experiences of turkey market participants, May not only marks the second consecutive month of...

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Jul 23 8:22 AM, Urner Barry


ANALYSIS: The Growing Price Gap Between Jumbo and Select Sized Boneless

Last year, we published an article titled, “Boneless Chicken Breasts and the New Norm” which shed light on...

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Jul 10 8:23 AM, Urner Barry


Shake Shack Plans to Expand in China

Shake Shack Inc. and licensee Maxim’s Caterers Limited announced an expanded partnership, with plans to open a minimum of 15 Shacks in South China by 2030, including locations in Shenzhen, Guangzhou, Fuzhou and Xiamen.

Together, Shake Shack and Maxim's Caterers Limited plan to operate 55 Shacks in mainland China by 2030. Maxim’s currently operates Shake Shack locations in Shanghai and Hong Kong, with Beijing and Macau in development with goals to open later in 2020. As a well-respected and proven operator in Asia, Maxim's has more than 60 years of experience in the food, beverage and retail sectors, and its diversified operations include...

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Jul 1 8:24 AM, General News


USDA, FDA Says Food Export Restrictions Not Consistent with COVID-19 Science

In a joint statement, the U.S. Secretary of Agriculture Sonny Perdue and FDA Commissioner Stephen M. Hahn, M.D., said that countries currently restricting global food exports over worries related to COVID-19 transmission are not consistent with science.

“The United States understands the concerns of consumers here domestically and around the world who want to know that producers, processors and regulators are taking every necessary precaution to prioritize food safety especially during these challenging times. However, efforts by some countries to restrict global food exports related to..."

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Jun 26 12:03 PM, General News


U.S.-China Trade Deal Remains Intact Despite Recent Comments from Trump Administration

Recent comments from both President Trump and officials in his administration led to volatile markets on Tuesday as industries reacted to White House trade adviser Peter Navarro’s comments during a recent Fox News interview.

During the interview, Fox News host Martha MacCallum, asked Navarro, “"Do you think that the president -- he obviously really wanted to hang on to this trade deal as much as possible and he wanted them [China] to make good on the promises because there had been progress made on that trade deal," MacCallum told Navarro. "But given everything that's happened ... is that over?"

"It's over," Navarro responded...

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Jun 24 10:39 AM, General News


China Approves Import of First Domestic GM Soybean for Feed Use

China has approved the import of two new genetically modified (GM) soybean varieties, including one developed by local firm Beijing Dabeinong Technology Group Co Ltd, its agriculture ministry said on Tuesday, making it the first Chinese engineered soybean allowed for import.

Dabeinong signed an agreement with Argentinian biotechnology company Bioceres SA in 2013 to help it get regulatory approval for production of its DBN-Ø9ØØ4-6 glufosate and glufosinate-resistant soybean in Argentina.

The Argentinian authorities granted safety approval for the variety in February 2019 but it has not yet been planted, pending approval by...

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Jun 23 8:37 AM, Urner Barry


CBP Intercepts Nearly 20,000 Pounds of Smuggled Animal Products from China at LA/LB Seaport

In just a few weeks, from April 6 to June 6, U. S. Customs and Border Protection (CBP) agriculture specialists assigned to the LA/Long Beach Seaport, intercepted 19,555 pounds of prohibited pork, chicken, beef and duck products arriving from China.

Most of the unmanifiested animal products were commingled in boxes of headphones, door locks, kitchenware, LCD tablets, trash bags, swim fins, cell phone covers, plastic cases and household goods in a clear attempt to smuggle the prohibited meats.

CBP agriculture specialists identified, examined and seized 12 shipments containing a total of 834 cartons which lacked the required...

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Jun 22 8:15 AM, General News


COVID-19 Overshadows African Swine Fever, but ASF’s Influence Prevails

African swine fever remains the dominant issue in global animal protein – as it has been since 2018. But COVID-19 further distorts the outlook, constraining production, consumption, and trade.

ASF is still the major influence on global pork markets, and it continues to impact pig herds and restrict pork production in China, Vietnam, the Philippines, and parts of eastern Europe. As Rabobank does not anticipate an effective vaccine against ASF to be commercially available in 2020, biosecurity measures remain the most effective defense.

Herd recovery is underway in China, and has been proceeding faster than expected, but a further significant drop in...

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Jun 19 9:05 AM, General News


NAMI to President Trump: China Must Meet Phase One Obligations

The North American Meat Institute joined a broad coalition of agribusinesses and agriculture organizations calling on President Trump to ensure continued implementation of the U.S. China Phase One Trade Agreement due to the significance of China’s market for U.S. food and agricultural exports, particularly U.S. meat and poultry products, which now enjoy expanded market access under the Agreement. The organizations emphasize the Agreement’s benefits for the U.S. rural economy, and underscore its importance to the overall growth and vitality of the U.S. agriculture sector.

The letter, sent June 16, 2020, was signed by 192 groups representing all parts of the food value chain and rural economies. The following is the text of the letter...

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Jun 17 9:58 AM, General News


ANALYSIS: A Mixed Month for Turkey Exports

For the past three months, total turkey export volume has consistently trended below year-ago levels and April was no exception...

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Jun 11 8:10 AM, Urner Barry


Cargill Launches New Plant-Based Products in China

Cargill announced it is launching a series of plant-based products in China, bringing more quality protein options to the Chinese market. The launch includes products for foodservice and a consumer-facing brand PlantEver. PlantEver is expected to debut in the Chinese market at the end of June and be available online and offline. 

“Our plant-based protein products were developed through extensive consumer engagement and research. We combine our knowledge and expertise in R&D and innovation to create some of the best tasting products in the plant-based category,” said Jackson Chan, managing director of Cargill Protein China. “The launch is just the beginning, we look forward to continuing to innovate. Our customers in China can count on a partner with...

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May 1 9:43 AM, General News


Rabobank: China's Growing Appetite for Meat Alternatives

‘Meat alternative’ has become a global buzzword since Beyond Meat conducted its stellar Nasdaq IPO. Since then, many meat alternative startups began looking into the Chinese market. The rise of the numerous Chinese startups, such as OmniPork and Zhenmeat, hinge on the belief that China will be a potential consumption market for meat alternatives.

Meat alternatives have been discussed a lot by the public media in the past year. The global frontrunners are US-based companies making beef-like burgers with plant-based ingredients, like Beyond Meat and Impossible Foods. Since Beyond Meat’s IPO, China has witnessed nearly 100 plant-based brands emerge in cities like...

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Mar 10 8:23 AM, General News




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