COPENHAGEN : China's consumption of pork remains subdued and normalization could take up to six months, said Danish Crown's CEO, who also told Reuters on Monday the company would lay off 550 staff in Denmark and Germany and cut capacity at its Essen plant by 40 per cent.Chinese pork demand is weak despite
COPENHAGEN : China's consumption of pork remains subdued and normalization could take up to six months, said Danish Crown's CEO, who also told Reuters on Monday the company would lay off 550 staff in Denmark and Germany and cut capacity at its Essen plant by 40 per cent.
The North Asian country's imports of pork - the most popular type of meat in the country - have halved over the last 18 months due to higher domestic production, low prices, and tepid demand. "Eating out is really what is driving consumption in China. But what we see now is that a lot of people are scared and stay away from restaurants," Valeur said.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'It's crashed into the present': Helena Bonham Carter doesn't think The Crown should continueHelena Bonham Carter doesn't think The Crown should continue. The 56-year-old actress played Princess Margaret in series three and four of the Netflix royal drama but thinks it should come to an end now as it is catching up with modern events. Helena told the Observer newspaper: 'I should be careful here, but I don't think it should carry on,...
Read more »
McIlroy pips Reed by one shot to win third Dubai Desert Classic crownWorld number one Rory McIlroy won his third Dubai Desert Classic title on Monday after he shot a final round of 68 to finish at 19-under overall, beating Patrick Reed by one stroke.Reed finished with a commendable final-round score of 65 which included an eagle on the par-five 10th hole but bogeyed the 16
Read more »
Ronaldo's Saudi switch another symbol of Chinese football's declineHONG KONG: Cristiano Ronaldo's headline-grabbing arrival at Al Nassr on a bumper pay deal captured global attention last month, but in an alternate world, the five-time Ballon d'Or win
Read more »
Ronaldo's Saudi switch another symbol of Chinese declineHONG KONG : Cristiano Ronaldo's headline-grabbing arrival at Al Nassr on a bumper pay deal captured global attention last month, but in an alternate world the five-time Ballon D'or winner may well have been destined for a move further east.The Portuguese striker's Saudi Arabia switch following the cancell
Read more »
Commentary: The end of Chinese lockdowns and the reopening of tradeRisks of disruption to ports and shipping are outweighed by a boost to global demand, says the Financial Times' Alan Beattie.
Read more »
The future of Chinese tech stocks: Is it time to invest in them again?The Chinese stock market has seen a difficult two years. Starting with harsh regulatory crackdowns in late 2020, and then followed by strict Covid-19 lockdowns that saw entire cities grind to a standstill, the result was billions of dollars wiped off the books of China’s tech giants and once-promising enterprises. However, things are headed for a change. China is attempting...
Read more »