China will impose anti-dumping duties on purchases of broiler-chicken products from Brazil, the country’s top supplier, after an almost 10-month investigation found surging imports damaged the domestic breeding industry.
Importers will pay a deposit of as much as 38.4 percent to Chinese customs on purchases from June 9, the Ministry of Commerce said in a preliminary ruling, citing initial findings from an investigation that started in August. Supplies from BRF SA are subject to a 25.3% rate and an 18.8% duty will be imposed on goods from JBS SA subsidiaries, according to a list published by the ministry. BRF and JBS are Brazil’s top chicken producers.
Shares of chicken industry-related companies declined. Guangdong Wens Foodstuffs Group Co., China’s largest producer, fell 4.3 percent. DaChan Food Asia Ltd. dropped 3.9 percent. Fujian Sunner Development Co. declined 2.2 percent.