Dumping hits RCL’s sugar and chicken businesses
Chicken imports have grown by over 25% in the period, mainly from Brazil and America, says the company
RCL Foods, the owner of the Rainbow, Nola, Selati and Sunbake brands, on Monday bemoaned the influx of cheap chicken and sugar imports, which it said weighed heavily on its performance in the six months to December. The listed food producer, which is 78% owned by Johann Rupert’s Remgro, is the latest company to express frustration about dumping, to the detriment of SA producers. This follows the recent call by the country’s cement manufacturers for the government to introduce measures to limit imports. In international trade, dumping takes place when a country or company exports a product at a price that is lower in the foreign importing market than the price in the exporter’s domestic market. "Chicken imports have grown by over 25% in the period, mainly from Brazil and America. Dumped imports remain a significant issue for, and component of, the local poultry market, representing over 25% of the market," the company said. According to the SA Poultry Association, Brazil was the main...