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Astral and RCL shares soar after crackdown on Brazilian meat imports
Astral and RCL shares soar after crackdown on Brazilian meat imports

Astral and RCL shares soar after crackdown on Brazilian meat imports


By Robert Laing - Mar 23rd 2017, 13:30

The share prices of South African chicken producers Astral and RCL soared on Thursday following the government’s crackdown on Brazilian meat imports. 

Astral’s share price gained 6% to R168 and RCL 5% to R16.79.

On Wednesday, the Department of Agriculture, Forestry and Fisheries said it had demanded a list of Brazilian companies implicated in the corruption scandal.

The department said it had asked Brazil to ban all meat exports to SA from establishments accused of bribing inspectors to pass tainted meat until the issue had been resolved to the satisfaction of the South African Veterinary Authority.

"It is not known how many consignments may have already left Brazil and are on their way to SA, however, [the Department of Agriculture, Forestry and Fisheries] is in the process of ensuring that the establishments implicated are suspended from exporting meat to SA until the Brazilian Veterinary Authority has fully investigated the matter and can give the necessary assurances for compliance to the South African requirements for importation of meat into SA," the department said.

"[Department of Agriculture, Forestry and Fisheries] officials at all ports of entry which receives meat have been instructed to test every container of meat from Brazil using the existing policies regarding testing of consignments. Consignments arriving at the ports of entry in SA may be tested microbiologically for organisms such as salmonella."© BusinessLIVE MMXVII 

Read more about: rcl shares | astral |

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