March 9, 2020

Top German meat processor Toenniesreports increased sales from China and Asia

The company said boosted demand from China and the rest of Asia resulted in 9.8% increase in sales last year to US$8.24 billion, reported Reuters.

Andres Ruff, chief executive of Toennies said swine prices are rising due to increased demand from Asia. He expected meat markets to remain stable with a positive development this year.

The African swine fever (ASF) outbreak in China has pushed the country to approve additional import sources to supplement dwindling local stocks, leading to record meat prices globally.

German swine farmers are concerned that China may impose a wholesale ban on pork from Germany if ASF was discovered even among wild boar.

Poland reported an ASF case just 12km from its border to Germany.

A spokesman from Toennies said it has been quiet since the discovery of ASF in Poland back in January, so the company hopes the situation stays stable.

-      Reuters