Here are the results from the Poultry Industry, aggregated for your convenience into one handy report: Moan, complain, Brazil, EU, whine, Import Tariffs, whinge, Input Prices. Last week, you will have read, the government hiked import tariffs on several imported chicken products by 8.75 percentage points on average, and tariffs on whole birds to 82%, to protect the local industry. This according to Sovereign Foods goes only some of the way, as it applies only to non-EU countries, the origin, apparently, of most of the chicken legs which make their way to these shores. Reporting their interims last week, Sovereign informed us that profit before tax declined by 5.8% to R20.2million for the six months to August, with competition from imports a big culprit but input prices doing their bit – feed costs have gone up 22% for the period while volumes are 4% down on last year.
Comment: The poultry industry does indeed have much to fret about. Although Whitey Basson (see Shoprite, above) takes a different view.