fbpx
Mon - Fri 10:00-18:00
info@rhodiuminvestments.co.za
Johannesburg, Fourways

Report: China Suspends Chicken Imports From Tyson Over COVID-19 Concerns

China’s General Administration of Customs issued a suspension on the imports of some of Tyson Foods(NYSE: TSN) chicken products, according to The Wall Street Journal. A Tyson spokesperson was quoted as saying, “At Tyson, we’re confident our products are safe and we’re hopeful consultations between the U.S. and Chinese governments will resolve this matter.”

Though the suspension order did not include the specific volume of chicken products involved, it included products that have already arrived in China, as well as products that are in transit, according to the Journal report. 

Chicken packages on grocery store shelves

Image source: Getty Images.

The move comes after Tyson on Friday reported results of facility-wide testing at its operations in Springdale, Arkansas. The company said that 481 employees, or 13% of those tested, had positive COVID-19 results. It said that 95% of the positive tests involved asymptomatic cases. This is in addition to 212 employee cases that were found through tests outside the company. Tyson is headquartered in Springdale and has several facilities in the area. It employees 24,500 people in the state of Arkansas. 

The order from China comes after a recent outbreak in Beijing led to flight cancellations and renewed restrictions and health checks to contain the spread. Last week, imports from a German pork producer were suspended after a COVID-19 case was identified at the company. 

Organizations including the Centers for Disease Control and Prevention, the Food and Drug Administration, and the World Health Organization have said that there is no evidence COVID-19 is contracted through food ingestion and that it is unlikely to spread on packaging. 

10 stocks we like better than Tyson Foods
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now… and Tyson Foods wasn’t one of them! That’s right — they think these 10 stocks are even better buys.

See the 10 stocks

*Stock Advisor returns as of June 2, 2020

Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Leave a Reply

Select your currency
ZAR South African rand