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Update news CP Vietnam
The completion of M&A deals with Thai investors has been followed by a succession of tough days in Vietnam, reported Nhip Cau Dau Tu.
There is likely false play in the way livestock companies calculate the selling price of live pigs, which is helping them maintain stellar profits in spite of the government’s calls to stabilise prices.
Vietnam is preparing to ship the first batches of chicken to Russia after the Russian Federal Service for Veterinary and Phytosanitary Surveillance allowed imported chicken from Vietnam.
CP Vietnam, the largest animal husbandry company, says that animal feed supply could run out by the end of May.
Thai groups have invested in many business fields in Vietnam, from goods production to retail.
Input material prices have decreased, but the price of animal feed remains unchanged, and, as a result, breeders have incurred heavy losses as the live pork price has dropped dramatically.
VietNamNet Bridge – CP Vietnam and Emivest Vietnam might have to pay fines totaling 10% of their total revenues in fiscal 2011 if they were found violating the Competition Law.
CP Vietnam Livestock Corporation, found as the culprit who pushed up the chicken egg prices up in recent days, has become the subject for extreme public criticism.