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RCL Foods completed a R123 million expansion of its South African pet food plant to reduce reliance on its poultry business, which has been hit by drought and cheap imports. The company reported higher first-half profit on lower input costs and higher chicken prices.
Company diversification is a corporate move with limited immediate effect on grain or meal prices. It mainly reflects ongoing pressure from El Niño drought on South African input costs.
foodstuffsa.co.zaBrendaMar 9, 2018After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
