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China JBS Red Meat Ban

  1. 50 Posts.
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    "China has suspended imports from four large red meat abattoirs, fuelling concern of a campaign by Beijing against Australian producers in response to Prime Minister Scott Morrison's push for an independent coronavirus inquiry." Sydney Morning Herald 12May20. (Two are JBS facilities).

    RFM's 2018 Entitlement Offer raised $149.5m:
    Proceeds from the Entitlement Offer will be used to acquire JBS Australia’s (“JBS”) five Australian feedlots
    and associated cropping land and water entitlements (“Feedlots”) for $52.7 million including stamp duty.
    Letter from the Chairman included in the Retail Offer Booklet 13Jul18.

    Hasn't seemed to affect the SP so far? Hope the problem is solved soon.
    Seems strange that a "third world country" should cut-off a major food supplier.
 
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