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...Cargill suffered a decline in operating profit across all of its main reporting divisions as results flagged in businesses ranging from sugar to red meat....
...Shanghai’s food safety watchdog in July launched an investigation into a meat and poultry processor after an undercover investigation by a local television station found the company to be putting new labels...
...The bidding war over Hillshire Brands is heating up, with the packaged meat company agreeing to hold talks with its suitors after Pilgrim’s Pride raised its offer to $7.7bn, up $900m from rival poultry processor...
...In late 2012, China’s largest poultry producer Liuhe was revealed to be meeting its contract with chickens sourced from smaller local farms that were injecting poultry with excessive amounts of antibiotics...
...Poultry company Pilgrim’s Pride has offered to buy Hillshire Brands for $6.4bn including debt, in a deal meant to head off Hillshire’s recent bid for Pinnacle Foods and create one of the US’s largest meat...
...But he warned that packaged meat companies do not generally have the “global expansion capabilities” to justify their high prices. Pork loins tend to sell better than hot dogs in China, he said....
...Tyson Foods has knocked out rival poultry producer Pilgrim’s Pride in the bidding war for Hillshire Brands with what it called a “unilaterally binding” $8.55bn offer, bringing it a step closer to acquiring...
...Whatever the motive, the announcement proved meagre defence: two unsolicited bids for Hillshire emerged this week from US poultry producers....
...Mafrig, Brazil’s third-largest meat processing group, has sold most of its international fastfood logistics assets to one of McDonald’s biggest contractors for $400m....
...The meat industry and some environmentalists say rising corn consumption by ethanol refiners including Archer Daniels Midland, Poet and Valero Energy has driven up food prices....
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