MONDAY, 11.00AM
The troubled livestock industry will commission analysis of the entire feed chain from farm lots to mills to increase efficiencies and cut costs in the face of foreign competition.
The analysis follows a study by the consultancy Agrimaker Trends which warned that such sectors as livestock production, animal feed production and abattoirs are under threat from foreign competition. Because export potential is limited, the local industry depends primarily on domestic consumption.
The study found that although cheap meat imports have damaged local livestock industries, the savings have not been passed on to consumers. The study also says that South African tariffs on imported beef and mutton, now 40%, are way below world standards which range between 66% and 190%.
BUSINESS BRIEFS
IBA WHOOPS
THE Independent Broadcasting Authority found itself in another embarrassing muddle, having to explain that a “proposal” for amendments to the M-Net licence which appeared in Friday’s Government Gazette were a mistake — a draft document had gone to the printers in error.
JSE GOES UP
THE JSE’S all-share index gained 41,4 points yesterday to reach 7190,4. Dealers attributed the rise to Friday’s good news about solid local reserves, an improved gold price and the best-ever week on Nasdaq.
HORSES TO CHINA
SOUTH African horse breeding company Oakfields will export a thousand thoroughbred racehorses a year to China, at about R45 000 per horse, over the next 15 years. The horses will be sold on Chinese thoroughbred markets, where Oakfields will have a 40% stake in a jockey club venture company. The deal is worth R1,5-billion over 15 years.
ZAIRE WOOD
THE Gotvil Timber Group has secured a concession over hardwood timber in the Zaire forests. The timber will be transported on 16 river barges and eight tugs supplied by Rowley Morgan Engineerng, based in Richards Bay.
MORE TREASURY BILLS
THE Reserve Bank increased the supply of its three and six-month treasury bills on Friday by R100-million in each category following strong demand. The increse in supply had little effect, with the three-month bills going up one basis point from the previous Friday.