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The Chinese Are Coming, And They Want America's Pork

Tyler Durden's picture




 

Moments ago, news broke that in a stunning M&A move, an American pork icon - Smithfield Foods, may be acquired as soon as today by China's Shuanghui, also known as Shineway, which is China's largest pork producer. The Chinese are coming, and they want America's pork. It unclear how soon after the deal gets clearance by the Committee on Foreign Investment (if it does at all) will the US be subject to that well-honored China excess pig "clearance" strategy: floating 'em down the river.

From WSJ:

Chinese meat producer Shuanghui Group is close to a deal to acquire Smithfield Foods Inc. for between $4.5 billion and $5 billion, according to people familiar with the matter.

 

The sale of the Smithfield, Va.-based pork and meat producer could be announced as soon as Wednesday morning, and comes on the heels of agitation from a large shareholder to split up the company.

 

The bid by Shuanghui, also known as Shineway, represents a roughly 30% premium over Tuesday's close of $25.97, the people said. But a deal could be subject to review by the Committee on Foreign Investment in the United States, they said.

 

Smithfield's board of directors is concerned about the deal passing muster with CFIUS review, said a person familiar with the matter. The deal is structured with a reverse breakup fee in the event that the deal falls apart due to regulatory issues, the person said.

 

Founded in 1936, Smithfield has a market capitalization of $3.6 billion as of Tuesday's close.

 

Shuanghui Group, based in Henan province in central China, is the holding company for Henan Shuanghui Investment & Development Co., 000895.SZ +1.47% which is publicly listed in the Chinese city of Shenzhen. Shuanghui is China's largest pork producer, according to the company, and it sells products under the English name Shineway.

 

A spokeswoman for Smithfield couldn't immediately be reached.

Confused why China wants pork? Simple: the meat is the primary food in the country, the biggest source of marginal food inflation, and is produced more in China than in the entire rest of the world.

 

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Wed, 05/29/2013 - 07:24 | 3606714 francis_sawyer
francis_sawyer's picture

All the pork is on Capitol Hill...

Wed, 05/29/2013 - 07:26 | 3606717 GetZeeGold
GetZeeGold's picture

 

 

Some of it was in Syria yesterday...not sure what the hell he is up too.

 

The explanation has yet to be provided....pretty sure it has something to do with running guns.

Wed, 05/29/2013 - 07:31 | 3606730 ITrustMyGut
ITrustMyGut's picture

ya.. can't make this tuff up... 9/11 al -cia-duh...*cough*

10 years later.... we welcome our al cia-duh overlords!!!

=(

Wed, 05/29/2013 - 07:52 | 3606771 King_of_simpletons
King_of_simpletons's picture

...And you guys thought that the Chinese won't get paid for their status as America's de-facto lender. The boss always collects.

Wed, 05/29/2013 - 07:58 | 3606784 negative rates
negative rates's picture

I guess they got tired of eating rice. 

Wed, 05/29/2013 - 08:06 | 3606812 Lost My Shorts
Lost My Shorts's picture

I wonder if the new Chinese owners will be required to abide by environmental laws.  Lord knows, the Republicans hate to burden business with rules and regulations.  So when the Chinese want to dump pig waste on Americans (and they wrote the requisite $5,000 checks), I assume it will be no problem.

Wed, 05/29/2013 - 09:05 | 3607018 BLOTTO
BLOTTO's picture

Pigs get fat,

sheeps get fleeced.

Wed, 05/29/2013 - 09:18 | 3607062 MajorWoody
MajorWoody's picture

Porkers get porked, I'm luvin' it.

How much do you figure they'll pay for a 350 pound gal from Texas?

Wed, 05/29/2013 - 09:49 | 3607157 Boris Alatovkrap
Boris Alatovkrap's picture

China man is, how you say, not so well endowment. Maybe is like small gal from Texas more better.

Wed, 05/29/2013 - 10:54 | 3607417 merizobeach
merizobeach's picture

"small gal from Texas"

Boris is never go to Texas before.

Wed, 05/29/2013 - 10:59 | 3607443 old naughty
old naughty's picture

Boris never ate a cow "whip" (eh penis) like most chinamen, for endowment ?

"Manufacturing" some of that 500m slaughters a year is good for the economy, no?

Wed, 05/29/2013 - 11:15 | 3607500 Boris Alatovkrap
Boris Alatovkrap's picture

Boris is vomit in mouth. Must go now.

Wed, 05/29/2013 - 15:13 | 3608269 TorchFire
TorchFire's picture

All your porks are belong to us.

Wed, 05/29/2013 - 10:07 | 3607245 Real Estate Geek
Real Estate Geek's picture

I stopped reading at Republicans. Open your eyes and see that the Elephants and the Donkeys actually comprise one party: the Pig party. And you're not a member.

Wed, 05/29/2013 - 08:00 | 3606788 Boris Alatovkrap
Boris Alatovkrap's picture

Pay up or your river is fill with floating pig cadaver!

Wed, 05/29/2013 - 14:14 | 3608052 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

LOL, stupid Chinese, they don't even know that Monsanto owns the entire pig species:

http://www.naturalnews.com/011581_Monsanto_patent_law.html

 

Wed, 05/29/2013 - 07:55 | 3606779 new game
new game's picture

long sons of anarchy

short rule of law

let real justice prevail...

Wed, 05/29/2013 - 07:25 | 3606715 lolmao500
lolmao500's picture

Stealing American weapons designs ain't enough for them? Pork? Let them eat cake!

Wed, 05/29/2013 - 08:02 | 3606794 Boris Alatovkrap
Boris Alatovkrap's picture

Weapon of Mass Consumption

Wed, 05/29/2013 - 09:41 | 3607140 fockewulf190
fockewulf190's picture

The US based pork will be sold in China for a big premium over domestic sources of pork because it will be considered "safe".  The same thing is currently happening with western produced powdered baby formula.  The Chinese don´t trust their own food industries, and will pay out the nose for quality.  Of course, those with cash will get the good stuff, while the poor will continue getting copious amounts of river pig.

Wed, 05/29/2013 - 09:47 | 3607154 Boris Alatovkrap
Boris Alatovkrap's picture

America Bacon is awesomeness, but Canadia Bacon is number one. Boris is put on yeast leavened crust with cheese, tomato paste, and pineapple and family is very happy for dinner.

Wed, 05/29/2013 - 12:40 | 3607773 DosZap
DosZap's picture

The US based pork will be sold in China for a big premium over domestic sources of pork because it will be considered "safe". The same thing is currently happening with western produced powdered baby formula. The Chinese don´t trust their own food industries, and will pay out the nose for quality. Of course, those with cash will get the good stuff, while the poor will continue getting copious amounts of river pig.

 

Don't forget plastic rice.

Wed, 05/29/2013 - 15:14 | 3608278 TorchFire
TorchFire's picture

Lock up your cats America.

Wed, 05/29/2013 - 07:25 | 3606716 sleepyguy007
sleepyguy007's picture

american will go to war over bacon.  this is the last straw.

Wed, 05/29/2013 - 07:28 | 3606724 francis_sawyer
francis_sawyer's picture

Next 'Commander in Chief' will be called 'The Bacon-a-tor'...

Wed, 05/29/2013 - 07:31 | 3606731 sleepyguy007
sleepyguy007's picture

i gotta say the chinese are smart.  they are trading us cheap plastic knick knacks for food companies.

Wed, 05/29/2013 - 21:52 | 3609174 cynicalskeptic
cynicalskeptic's picture

A pound of bacon here is already over $7 - up from $4 and change a year ago......

Wed, 05/29/2013 - 07:29 | 3606725 ITrustMyGut
ITrustMyGut's picture

the translation of worthless fiat debt bombs into tangibles... continues...

Wed, 05/29/2013 - 07:30 | 3606728 Smegley Wanxalot
Smegley Wanxalot's picture

Weren't the Chinese just floating dead pork down their rivers? Now they want to float ours???

Wed, 05/29/2013 - 07:41 | 3606752 kralizec
kralizec's picture

Are chickens safe from them?!

Wed, 05/29/2013 - 07:31 | 3606733 laomei
laomei's picture

Remember when everyone was scared of Japan.  And Japan came in and pissed away all their money on pointless shit that made no sense, ended up being money pits and other investments made to try and create some level of "respect"?  Remember when Japan rolled over on the Plaza Accord and as if by magic their economy plunged into a depression that it's been in ever since to this very day?

 

Neither of those things will be happening with China.

Wed, 05/29/2013 - 07:51 | 3606770 Ghordius
Ghordius's picture

I do remember. +1

I do also remember how all the talk about Chinese money flowing into the American political process created a small, short scandal - and was never mentioned again, particularly because "reform" brought our American Cousins the twin beauties of "corporations are persons" and the Super-PACs, which give every dollar the same electoral chances as the other dollar

careful, though, China could have a very bumpy road ahead, and your political system is not... foolproof and crisisproof

Wed, 05/29/2013 - 08:17 | 3606851 AnAnonymous
AnAnonymous's picture

Who knows? For 'americans', the group is all and they are a lot of 'american' wannabees in China.

Just like the others, they will blow money on acceptance.

Muslims are doing this at the moment, blowing money on sports teams and infrastructure.

Speaking of building a future alternative to oil...

Wed, 05/29/2013 - 08:24 | 3606874 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Who knows? For 'americans', the group is all and they are a lot of 'american' wannabees in China.

Should be prosperous for your JKC* franchise. Those free river pigs you fished in Shanghai are pure of profits.

 

*Just Killed Cat, popularous Chinese citizenism fastfood chain much the dangdang.

Wed, 05/29/2013 - 08:19 | 3606855 Hulk
Hulk's picture

No Pork for you !!!

Wed, 05/29/2013 - 07:33 | 3606735 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Melanin bar b q'd ribs anyone?

This deal probably should go through, but my guess is that it gets blocked.

We don't want pigs spying on us!

Wed, 05/29/2013 - 07:34 | 3606737 LawsofPhysics
LawsofPhysics's picture

Pork for gold. Sounds good to me.

Wed, 05/29/2013 - 07:38 | 3606744 laomei
laomei's picture

No, you'll be getting some of that worthless paper back that you've been printing.  Enjoy :)

Wed, 05/29/2013 - 08:31 | 3606903 shovelhead
shovelhead's picture

Haha,

Just what I was thinking.

"You think we stupid taking paper? Now we eat your lunch."

Wed, 05/29/2013 - 09:29 | 3606960 LawsofPhysics
LawsofPhysics's picture

Then no pork for you!!!  Possession is now the law after all.  Must be some serious chinese trolls out this morning.  It is what it is.  If I have the pork, I decide what I want in exchange motherfucker.

Wed, 05/29/2013 - 07:37 | 3606740 GoldForCash
GoldForCash's picture

If China acquires lets buy from another company.....right

Wed, 05/29/2013 - 08:26 | 3606878 Bobbyrib
Bobbyrib's picture

They won't need your demand. All that pork will go back to China. They might produce it here, but it will be going back to China.

Wed, 05/29/2013 - 21:56 | 3609183 cynicalskeptic
cynicalskeptic's picture

Saves them the collateral costs of feed and water needed to raise those pigs - more water from irreplaceable Noprth American aquifers is being exported to China with those pigs while the US is left with all the ponds of pig manure

Wed, 05/29/2013 - 07:37 | 3606741 orangegeek
orangegeek's picture

"...It unclear how soon after the deal gets clearance by the Committee on Foreign Investment (if it does at all) will the US be subject to that well-honored China excess pig "clearance" strategy: floating 'em down the river...."

 

ROR!!!

Wed, 05/29/2013 - 07:38 | 3606743 sudzee
sudzee's picture

Chineese political donations paying off in pork.

Wed, 05/29/2013 - 07:38 | 3606745 horot
horot's picture

So I presume the market will go  *Oink-Oink*

Wed, 05/29/2013 - 07:40 | 3606749 lolmao500
lolmao500's picture

Hide your kids, hide your wives, hide your dogs, the pigs are coming!

Wed, 05/29/2013 - 09:20 | 3607069 MajorWoody
MajorWoody's picture

Hide your obese relatives with pink skin

Wed, 05/29/2013 - 07:39 | 3606747 lolmao500
lolmao500's picture

Syria has positioned Tishreen missiles aimed at Tel Aviv. Tishreen has a 200 km range and half ton warhead. IAF will take these out first.

NATO chief to meet Obama in White House on Friday (AP)

This will end totally well...

Wed, 05/29/2013 - 07:43 | 3606754 Volaille de Bresse
Volaille de Bresse's picture

The plan is : 

 

"Pork meat for the Chinese, Soylent Green for the American people"!

Wed, 05/29/2013 - 08:02 | 3606793 mess nonster
mess nonster's picture

Pigs are as inteliigent as dogs. Modern factory farming, which confines these animals in conditions so horriffic there are now laws against takiing photgraphs of confined animal operations, is one of the most cruel and inhumane monstrosities ever created by humans.

Confined animal operations increase disease transmiossion. As a result, anitbiotics and other harmful drugs are used indoiscrimainately. Fed GMO feedstocks in held in cramped, filthy, and inhumane conditions, the animals themselves suffer psychologically, emotionally, physically. The meat products produced from these tortured creatures actively promote disease in human consumers.

We will defeat the Chinese- by making them twice the children of hell as ourselves.

 

Wed, 05/29/2013 - 08:34 | 3606918 shovelhead
shovelhead's picture

Babe could talk.

Hope he's learning Cantonese.

Wed, 05/29/2013 - 09:50 | 3607164 Boris Alatovkrap
Boris Alatovkrap's picture

Hu Flung Dung?

Wed, 05/29/2013 - 09:18 | 3607056 Kinskian
Kinskian's picture

Yes, pork production in China is more intimate. There the farmers and pigs room together before the pigs get eaten.

Wed, 05/29/2013 - 07:47 | 3606758 EclecticParrot
EclecticParrot's picture

I don't understand why they don't just use their best hackers to get the pork.  

All inventory and shipping information for fresh meats are obviously stored in computer files, which means easy access and manipulation, and the booty potentially purloined by porcine perpetrators.

 

If we see a few stray balloons from Pink Floyd's "Animals" tour floating by, it'll be a sign that they've struck.  (This very much matches the characteristic Chinese sense of humor.)

Wed, 05/29/2013 - 07:54 | 3606774 laomei
laomei's picture

Actually, most Chinese are (fairly accurate) of the opinion that US pork sucks.  It honestly does taste horrible.  Acquisition by China is pretty much a golden ticket that, if played correctly, will result in better breeds, better pork, and a whole lotta profit (for China), as well as being able to effectively offshore some of the production to a China-owned company in the US.  Enjoy!  You're gonna get your lunch eaten, on the plus side, the scraps will taste better.

Wed, 05/29/2013 - 08:14 | 3606841 disabledvet
disabledvet's picture

Can't speak for Smithfields but I always though Virginia hams were the best of the best. Anywho...if you're willing to spend that much money for "no good pork" then why shouldn't someone else be able too? Sounds to me like pork production...and quality...is indeed about to surge. But for whom?

Wed, 05/29/2013 - 08:14 | 3606845 jonjon831983
jonjon831983's picture

Though not exactly the best indicator, I've eaten breakfast @ hotels in some parts of China.  Their pork definitely sucks.

Either it is the species? of pork that is raised... maybe how they are processed... not sure.

Wed, 05/29/2013 - 08:26 | 3606879 Dugald
Dugald's picture

Pigs are just what you feed em, feed them crap and thats how the  meat tastes......

Wed, 05/29/2013 - 08:29 | 3606894 Bobbyrib
Bobbyrib's picture

I think what you and LaoMei are forgetting is that the populations of both countries expect different products. So what may be delicious to one country may "suck" for another.

Wed, 05/29/2013 - 08:27 | 3606883 Hulk
Hulk's picture

It taste horrible becasue it is confinement raised. When we first started doing forest fed pigs, we bought a few confinement raised pigs to get started. We couldn't believe how bad they smelled and how bad their shit smelled. After a few weeks in the woods, the bad smell went away and by the time we had them butchered and packaged, the meat was delicious...

Wed, 05/29/2013 - 08:40 | 3606937 chubbar
chubbar's picture

What were they eating in the woods, if you don't mind me asking? Did you have to augment with any other type feed?

Wed, 05/29/2013 - 08:55 | 3606984 Hulk
Hulk's picture

They eat everything. Small trees, roots, acorns, an occasional chicken. They completely clear out the woods and have to be moved. Yes, they have a movable feeder. We ferment molasses, corn, wheat and feed that to them

Wed, 05/29/2013 - 08:40 | 3606931 shovelhead
shovelhead's picture

Mr. Wu in Deadwood had the secret of growing tasty pork.

"Swingen, you send me cocksuckars."

Wed, 05/29/2013 - 07:47 | 3606763 Skin666
Skin666's picture

Is this kosher?

Wed, 05/29/2013 - 12:36 | 3607761 DosZap
DosZap's picture

Sure glad we do not have a  dead fetus market, they would jump all over that also.

Wed, 05/29/2013 - 07:48 | 3606764 the not so migh...
the not so mighty maximiza's picture

bonesless pork spare ribs over pork fried rice, yummy

 

Wed, 05/29/2013 - 07:48 | 3606765 ZeroPoint
ZeroPoint's picture

Is there any doubt that there will eventually be a third world war between China and the US?

 

Wed, 05/29/2013 - 07:49 | 3606766 BandGap
BandGap's picture

This is easy, we have a feral pig problem in this country. Pay the Chinese to clean it up. Win-win.

Wed, 05/29/2013 - 07:54 | 3606776 williambanzai7
williambanzai7's picture

Hillary is for sale.

Wed, 05/29/2013 - 08:31 | 3606905 willwork4food
willwork4food's picture

Word is that on the playground was Hillary would dare to pull down her pants for someone's lunch money.

 

Wed, 05/29/2013 - 08:30 | 3606893 Hulk
Hulk's picture

That meats too old and it smells like Lewinsky...

Wed, 05/29/2013 - 08:42 | 3606941 shovelhead
shovelhead's picture

Eewwwww.

The thought of eating that makes me want to bleach my brain.

Wed, 05/29/2013 - 07:59 | 3606785 Downtoolong
Downtoolong's picture

Because, for some reason many of the pigs raised in China end up dead and floating in the river.

I've always suspected the Chinese Pig Mafia, but, I can't prove it.

 

Wed, 05/29/2013 - 09:57 | 3607175 Aurora Ex Machina
Aurora Ex Machina's picture

A book for you: The Windup Girl.

The economics of it don't make much sense, but it's certainly got an interesting theme (poor Finland).

 

 

p.s. I chose that site over AMZN etc for this epic review. All of humanities' problems in one easy to read flame bait one star review. Classic (and he even updated it after three years, it's obviously central to his life).

Wed, 05/29/2013 - 08:00 | 3606787 new game
new game's picture

how much u payin me?

Wed, 05/29/2013 - 08:01 | 3606792 youngman
youngman's picture

The Chinese have all kinds of barriers for our food in China.....now they want it...I doubt that this passes the politicians muster..but cash talks...and the Chinese have a lot of our cash....I do not trust them.....especially with my food...

Wed, 05/29/2013 - 08:06 | 3606809 SelfGov
SelfGov's picture

Swineway

Wed, 05/29/2013 - 08:14 | 3606844 JamesBond
JamesBond's picture

all your pork rinds are belong to us

Wed, 05/29/2013 - 08:16 | 3606847 jonjon831983
jonjon831983's picture

Man... China eats more pork?  Gotta step up the pork eating game... even with all the bacon hype? http://pinterest.com/mrsbittle/bacon-recipes/

Bacon weaves... etc...

sigh...

Wed, 05/29/2013 - 08:20 | 3606857 valley chick
valley chick's picture

Is Murphy Brown subsidiary of Smithfield Foods included in the sale?

Wed, 05/29/2013 - 08:23 | 3606869 Mi Naem
Mi Naem's picture

Excellent.  Let the Chinese buy this enormous American factory torture "farming" sh*thole that produces what our ancestors would have spat back out. 

I'll continue buying Humanely Raised and Handled

( http://certifiedhumane.org/ and http://www.certifiedhumane.org/index.php?page=producers-products )

pork from a sustainable family farm where the pork tastes like pork (not "that other white meat", whatever that means). 

Wed, 05/29/2013 - 09:50 | 3607167 TrulyStupid
TrulyStupid's picture

Only problem is.. the chinese consumer reaps the benefits of all the subsidies poured into the whole hog industry supply chain by the US taxpayer. Agri-business, GMO corn and other feeds.

Mid West becomes Chinas pig Guantanamo...US environment and tax payer foot the bill...Obama the Muslim (Ironically) gets the blame.

Wed, 05/29/2013 - 15:45 | 3608363 Mi Naem
Mi Naem's picture

Very good points which I did not consider.  (Your moniker does not describe you well at all.) Yet another excellent reason to promptly and precipitously phase out federal Ag subsidies. 

Although, I'm pretty sure O-hole's not a Muslim, nor a Christian, but most likely a deist who figures the watchmaker's not looking, so anything goes.  He may look like a Muslim from what he and Bush have done to the Middle East, but that's just destabilization for the ongoing global power grab IMO. 

Wed, 05/29/2013 - 08:23 | 3606870 AnAnonymous
AnAnonymous's picture

The idea that porks grown in the US could be shipped to China through acquisition of a US company is very bold.

The reverse might happen.

Wed, 05/29/2013 - 08:28 | 3606885 TheFourthStooge-ing
TheFourthStooge-ing's picture

The idea of Chinese citizenism blobbing up operating in a reversely manner is accessorily fantasical.

Wed, 05/29/2013 - 08:30 | 3606898 Manipuflation
Manipuflation's picture

So I can expect prices at the ubiquitous China Bomb Buffets to be rising soon in the U.S.?  For shame.  The last time I ate at one of those joints I ended up shitting by the side of the road anyway.

Wed, 05/29/2013 - 08:31 | 3606907 pazmaker
pazmaker's picture

The largest meat and poultry protein producers in USA are:

1. Tyson Foods(US Multinational Corporation)

2. JBS -Brazilian owned bought out Pilgrams Pride(poultry) owns pork and beef operations.

3. Cargill(US Multinational)

4. Smithfield (US multinational soon to be Chinese owned!)

5. Sysco(US multinational)

Know where your food comes from!   Buy local!  There are farmers that raise beef poultry and pork near you!!!

www.localharvest.com

 

 

Wed, 05/29/2013 - 10:31 | 3607340 KingdomKum
KingdomKum's picture

Great link,  Thanks !!

Wed, 05/29/2013 - 10:36 | 3607357 Craxi
Craxi's picture

Sysco is food distributor not a producer.

Wed, 05/29/2013 - 09:04 | 3607017 esum
esum's picture

Banjo music....now squeal like a pig 

Wed, 05/29/2013 - 09:16 | 3607055 grunk
grunk's picture

I'll give you my scrapple and bacon when you pry it from my cold, dead hands.

Wed, 05/29/2013 - 15:47 | 3608368 Mi Naem
Mi Naem's picture

Scrapple?!? 

That's OK, you can have it.  :)

Wed, 05/29/2013 - 09:45 | 3607131 Aurora Ex Machina
Aurora Ex Machina's picture

They just made a move into Belarus:

China is building an entire city in the forests near the Belarusian capital Minsk to create a manufacturing springboard between the European Union and Russia.

Belarusian President Aleksandr Lukashenko allotted an area 40 percent larger than Manhattan around Minsk’s international airport for the $5 billion development, which will include enough housing to accommodate 155,000 people, according to Chinese and Belarusian officials.

Lukashenko, who’s led his former Soviet state of 9.5 million for two decades, is turning to China to help revive a $60 billion economy that’s needed $6.5 billion of bailouts from the International Monetary Fund and Russia since 2009. The hub will put Chinese exporters within 170 miles of EU members Poland and Lithuania and give them tax-free entry into Russia and Kazakhstan, which share a customs union. It will also let them draw from a workforce that’s 99.6 percent literate and makes $560 a month on average, half the Polish wage.[Bloomberg]

 

An economic free zone between the EU and Russia, funded by China? Biscuit meet cake, and grab your popcorn [Map for the geographically challenged].

As for the piggies? Well, China is moving into the Australian beef market (only buying product atm) and are fully in favour of industrialized GMO feed principles, so I don't see the market caring who owns it.

If it was bought out by an EU corp (who traditionally like a bit of science with their GMOs, however, here is Tesco announcing it can no longer fulfill promises) who wanted to switch to non-GMO feed, you'd see the deal squashed quicker than a street food vendor when Health & Safety come calling.

Global cultivation     Total     GM varieties
Soya bean     95 million     75.4 million (79%)
Maize     157 million     51 million (33%)
Cotton     34 million     24.7 million (73%)
Oilseed rape     30 million     8.2 million (27%)
Total for the above four crops     316 million     159.3 million (50%)

[FSA UK]

 

 

p.s. I really hate this faux hyper-linking that grotty rags like Bloomberg & The Guardian use just to self-recursively link to their own content. It's a bastardization of "Scientific Journalism" and pointless. Not modern, just the illusion of being able to use the tech. Pitiful. Try linking to PDFs & Journals boys n girls.

Wed, 05/29/2013 - 09:45 | 3607152 Joshua Falken
Joshua Falken's picture

Buying American assets with US$'s keeps your wealth away from Bernanke's grasping hands.

Wed, 05/29/2013 - 10:27 | 3607330 post turtle saver
post turtle saver's picture

long pig

Wed, 05/29/2013 - 11:17 | 3607503 CoolBeans
CoolBeans's picture

I don't purchase anything that originates from China for my pets.  Remember the dog food poisioning?  

Remember melamine in milk to increase protein content?  

How about the toothpaste that was sold in the U.S. (recalled) but contained poision?  Yep, rather than using glycerin as a thickening agent, they used diethylene glycol.

This is the same country that has companies that use toxic materials in toys.

I understand that 60% of product recalls are connected to manufacturers in China.

Even if the company uses U.S. grown pork, I will not purchase this product - They have been implicated in scandals involving tainted food (the pork scandal").

When it comes to food safety standards...I'm too concerned even w/U.S. based food companies and what suppliers they are using (yikes) to even consider a Chinese-based entity heavily funded by Goldman Sucks that has been caught using prohibited lean meat protein and drugs.

http://english.cntv.cn/program/china24/20110317/103653.shtml

http://www.china.org.cn/learning_english/2011-03/17/content_22165024.htm

http://books.google.com/books?id=7-XSc2znVFoC&pg=PA53&lpg=PA53&dq=shineway+food+safety&source=bl&ots=_at-mxtZIJ&sig=a-VUAR0Xl6TIpqeauubpsEMgI0s&hl=en&sa=X&ei=XhqmUdmRE4_e8wTV2oCoCA&ved=0CDMQ6AEwADgK#v=onepage&q=shineway%20food%20safety&f=false

 

 

Wed, 05/29/2013 - 13:01 | 3607847 Aegelis
Aegelis's picture

China can only buy what's for sale, everything else is sour grapes.

Do NOT follow this link or you will be banned from the site!