The UK government is examining options for the CO2 market to improve resiliency over the longer term, a spokesperson said. The country already has seen an improvement with additional imports, further production from domestic sources and larger stockpiles. The government is engaging with businesses across the food industry on potential impacts, the spokesperson added.
“Whilst we are in a much better position now than we were a year ago, if CF Industries follows through on its threat to close Billingham, the British meat industry will have serious concerns,” he said. “Without sufficient CO2 supplies the UK will potentially face an animal welfare issue with a mounting number of pigs and poultry unable to be sent for processing.”
CF said it has notified customers that buy carbon dioxide on a contract basis from Billingham about the planned halt. The company cited gas prices, which are surging on supply disruptions after Russia’s invasion of Ukraine, as well as the price of carbon, for the closure.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Business Activity Slumps Globally, Feeding Recession ConcernsEconomic activity weakened from the US to Europe and Asia, reinforcing concerns that soaring prices and the war in Ukraine will tip the world into a recession.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Cartoon Thursday with RicoDefend Truth
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: China adds 1 trillion yuan more of stimulus to rescue growthThe Asian super power has stepped up its economic stimulus with a further 1 trillion yuan (R2.466-trillion) of funding largely focused on infrastructure spending, support that likely won’t go far enough to counter the damage from repeated Covid lockdowns and a property market slump.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Stocks up as traders mull China move, await Powell: markets wrapAn Asian stock index rose on Thursday as investors evaluated China’s latest steps to shore up its economy and awaited a key speech by Federal Reserve Chair Jerome Powell about the monetary policy outlook.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Asian stock gauge drops amid rise in yields, crude: markets wrapStocks retreated in Asia on Tuesday amid worries about Federal Reserve monetary tightening that have also boosted bond yields. Oil topped $91 a barrel after Saudi Arabia said OPEC+ may be forced to cut output.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Revlon tells bankruptcy judge its shares may be worthlessThe judge overseeing the cosmetics giant’s bankruptcy has been told that Revlon shareholders don’t need a special, company-funded committee to represent them in the Chapter 11 case because there is no evidence the equity is worth anything.
Source: dailymaverick - 🏆 3. / 84 Read more »