China’s second largest pig farmer, Muyuan Foods Co Ltd, reported that full-year profits for 2019 jumped more than 1,000% to $869.8 million due to record hog prices caused by a drop in supply from the devastating ASF outbreak.
The company sold more than 10 million pigs last year, benefiting from a 140% increase in hog prices in 2019, after ASF wiped out the pork supply and left many breeding farms empty, Reuters reports.
Read more
- 37 Garsfontein Rd, Waterkloof, Pretoria
- Mon - Fri: 08:00 - 16:30
- +27 (12) 100 3035
- info@sappo.org