Country Bird to Close S. Africa Plant on EU Chicken Imports
(Bloomberg) -- Country Bird Holdings Ltd., South Africa's third-largest chicken producer, will close one of its three abattoirs as the local industry struggles to compete with cheap European imports that it argues amount to dumping.
The company will close its facility in Mahikeng, in the North West province, in the absence of increased government protection against the imports, Country Bird Chief Executive Officer Marthinus Stander said by phone Thursday. The company notified employees last year about the planned closure, he said.
South African farmers and labor unions say the European Union is selling chicken legs, thighs and wings at below cost, pushing the local industry to the brink of collapse, and have asked the government to increase protection. The EU has in turn accused South Africa of unfairly protecting its chicken industry with import duties that mask local producers' inability to compete in global markets.
Click here for more on the chicken fight rocking South Africa-Europe trade relations
The South African Poultry Association told lawmakers this week that chicken imports should be reduced by at least half, according to a presentation provided by the group's CEO, Kevin Lovell.
Country Bird ended its listing on the Johannesburg bourse in December 2014.
To contact the reporter on this story: Thembisile Dzonzi in Johannesburg at tdzonzi@bloomberg.net.
To contact the editors responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net, Liezel Hill, Pauline Bax
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.