August 22, 2018 / 9:32 AM / 3 months ago

China's COFCO Meat says African swine fever has limited impact so far

BEIJING, Aug 22 (Reuters) -

* COFCO Meat chairman Jiang Guojin said on Wednesday that African swine fever (ASF) has had limited impact on the company’s business so far

* China reported its first-ever outbreak of the deadly disease three weeks ago

* Speaking at the company’s first-half results briefing, Jiang said every 100 yuan ($14.55) per tonne rise in soymeal prices leads to an increase in production costs of 0.05 yuan per tonne

* Soymeal prices have surged in recent months as Beijing’s hefty taxes on U.S. soybean imports have inflated prices of animal feed ingredients

$1 = 6.8740 Chinese yuan Reporting by Josephine Mason; Editing by Tom Hogue

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