Chinese frozen food producer Sanquan Food Co. Ltd recalled pork dumplings on Monday that might be contaminated with African swine fever (ASF).
These dumplings consist of dough wrapped around pork that are then boiled, fried or steamed. Not only are they a staple Chinese dish, but they are also a popular meal for people celebrating the Lunar New Year.
Sanquan, one of China’s top dumpling brands, said it has recalled all products suspected of contamination, specifically citing reports of contamination in three batches of pork dumplings, according to a Reuters article.
The company said it is cooperating with local authorities on an investigation into the reports. It did not confirm or deny the reports in the statement, Reuters said.
The Ministry of Agriculture and Rural Affairs is investigating the matter and asked companies involved to track the origin of pork used in the reportedly contaminated products.
Company Faces Biggest Slump Since October
Shares of Sanquan Food Co., stock slumped the most they have since October after the media reported ASF was discovered in some of the company’s pork dumplings. Volume in the first hour of trading Monday was quadruple the three-month full-day average, according to Bloomberg data.
Pig farmers that haven’t been affected by ASF continued to see a price rally that began last week. The companies led the best week in more than three years for China’s agriculture stocks, due to the speculation that Chinese pork prices will be rising due to a limited supply of healthy pigs.