China's top pig farming firm to follow new lower protein feed standards
Reuters
Published Nov 14, 2018 05:59AM ET
China's top pig farming firm to follow new lower protein feed standards
GUANGZHOU, China (Reuters) - China's top pig farming company Wens Foodstuffs Group Co Ltd (SZ:300498) will comply with new government-backed guidelines on lower protein in animal feed, a company executive said, adding however that the impact on its operations would be minimal.
China's Feed Industry Association last month approved new standards for pig and chicken feeds, with lower protein levels as Beijing seeks to reduce its consumption of soymeal amid an ongoing trade spat with major soybean supplier the United States.
Wens has pledged to follow the guidelines, Yang Junpeng, deputy general manager of purchasing told an industry event on Wednesday. But he said it would have only a small impact on the company as its formulas are already very close to the new rules.
The rules have no impact on its poultry feed, and will only require a change to feed for pigs above 75 kilograms, said Yang.
"In recent years we've been continually optimizing our formulations," he said.
Wens Foodstuff is China's top producer of pigs, slaughtering more than 10 million pigs in the first half of the year, and 330 million chickens.
Outbreaks of African swine fever are currently restricting farmers' ability to replenish their herds.
The highly contagious disease has been reported in 17 provinces across China, including its major pig producing regions, forcing Beijing to roll out restrictions on the transport of live pigs across the country.
"Next year pig prices in the second half will be comparatively positive, though we still need to see how African swine fever evolves and the ongoing impact from environmental policies," he said.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.