Astral and RCL shares soar after crackdown on Brazilian meat imports
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 complian...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.