Astral warns of big profit drop in first half
Decline is ascribed to rising prices of soybeans and maize as well as fall in disposable income
28 April 2021 - 07:50
UPDATED 28 April 2021 - 18:28
SA’s largest poultry producer, Astral Foods, expects half-year profits to fall more than a third as food producers grapple with soaring input costs that they cannot recoup from hard-pressed consumers.
Prices of grains and legumes, including soybeans and maize, have spiked since late 2020 as China moved to rebuild animal herds, and the group has warned it is struggling to fully pass on costs to consumers...
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