British pork producers have seen their profits eroded by COVID-19 and an outbreak of deadly African Swine Fever in Germany, and are now having also to deal with Brexit red tape that has hammered exports and hurt demand.
The German pork market is starting to recover after being hit last year by widespread import bans on German pork after African swine fever was found in the country and COVID-19 outbreaks reduced slaughterhouse capacity.
Hong Kong authorities ordered the culling of all 3,000 pigs in a herd after the African swine fever virus was discovered to be spreading for the first time in one of the city’s farms.
The Philippines plans to increase pork imports this year to roughly 400,000 tonnes, more than double the initial proposal, as it seeks to cover a domestic shortfall that has pushed market prices higher.
China’s most-active hog futures contract surged more than 4% on Monday and shares of the country’s biggest pig producer rallied after recent reports highlighted severe disease outbreaks in the world’s largest pig herd.
Chinese scientists have found a natural mutation in the African swine fever virus they say could be less deadly than the strain that ravaged the world’s largest pig herd in 2018 and 2019.
A surge in hog disease outbreaks this winter in China, the world’s biggest pork producer, will slow the industry’s rapid recovery since the African swine fever contagion three years ago.
Impossible Foods said it would cut the prices of its faux meat patties by 20% at U.S. grocery stores as it ramps up production with a larger plan to eventually undercut ground beef prices.
A U.S. congressional panel is investigating three large meatpacking companies for possible worker-safety violations following reports that hundreds of industry workers have died of COVID-19.
PepsiCo Inc and Beyond Meat Inc said on Tuesday they would form a joint venture to develop and sell snacks and beverages made from plant-based protein.
