South African pork industry to lose over $80 million after listeria outbreak
FNB Agri-Business senior agricultural economist Paul Makube said in a statement that the listeria outbreak caused a drop in pork product prices and a drop in demand for cold and processed meats, while prices for other meat products are currently increasing, according to Business Day.
Mr. Makube added that South African pork farmers are redirecting the pigs for the fresh meat market and this is generating a surplus, while in the meantime there is also an increased pressure on low prices because of this.
Earlier in April, Johann Kotzé, CEO at South African Pork Producers’ Organisation, said that the pig prices went down by 40% and 50% and that the local pork industry shall suffer a loss of an estimated R45 million ($3.6 million) a week.
FNB says that prices for other meats increased by nearly 6% after the outbreak.
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