Masan MEATLife and Dabaco Shares Surge Amid Competitor Scandal
During the morning trading session on June 4th, shares of Masan MEATLife (MML) and Dabaco (DBC) witnessed a rapid surge in prices. As of now, DBC shares have risen by the maximum allowed limit of 6.8% to 29,650 VND per share, while MML shares have increased by 5.2% to 34,700 VND per share.
This marks the fourth consecutive session of gains for MML, which also rose over 6% in the previous two sessions. For DBC, this is the third straight positive session.
In the first three sessions of June, MML shares climbed nearly 20%, corresponding to a rise in market capitalization of 1,800 billion VND to nearly 11,500 billion VND, while DBC’s market capitalization increased by 750 billion VND to 9,900 billion VND.
The rise in MML and DBC shares comes as one of their major competitors, C.P., faces allegations of selling sick pigs. The accusations stem from a social media post by someone claiming to be an employee in C.P.’s sales department, specifically in charge of the pork business in the outsourcing sector.
According to the post, while working at the C.P. Fresh Shop in My Xuyen, My Xuyen district, Soc Trang province, the employee, along with several colleagues and local residents, discovered several abnormal signs related to the meat business there.
The account accused C.P. Vietnam of mixing sick pig and chicken meat, and even meat with a putrid smell, lumps, abscesses, or pus, or that had been pre-processed… was still being supplied to the Fresh Shop system for consumption.
At noon on the same day, C.P. Vietnam issued a statement to customers and partners, refuting these allegations.
Subsequently, a joint provincial team from Hau Giang inspected the Nguyen Dan and Dung Nga slaughterhouses, which are outsourced by C.P. Vietnam and located in Hau Giang province.
The inspection aimed to verify the content of a document from the Soc Trang Department of Agriculture and Environment requesting clarification of images of sick pigs as reflected by local people, with notes indicating that the photos were taken in Hau Giang province.
Regarding the images of sick pigs posted on social media, which were allegedly taken at 2:30 am on March 26, 2022, Mr. Nguyen Chi Cuong, representative of the Nguyen Dan slaughterhouse, confirmed that the photos were indeed taken at their facility.
Mr. Cuong explained that the pigs were imported in a healthy state and had complete health certificates. However, during the slaughtering process, due to the prolonged time, one of the pigs exhibited “abnormal signs.”
According to the representative, the process of destroying the product was documented with the confirmation of veterinary staff, company employees, and slaughterhouse staff. The pig in question, which showed “abnormal signs,” was handled according to regulations.
On June 3rd, at a regular press briefing of the Ministry of Agriculture and Environment (MARD), Ms. Nguyen Thu Thuy, Deputy Director of the Department of Livestock and Veterinary, stated that as soon as they received information about the online post alleging C.P. of selling sick pigs, the Department requested C.P. to provide a report and explanation regarding the incident.
Notably, regarding slaughter control, the Deputy Director of the Department of Livestock and Veterinary stated that the mark on the pig in the online photos was incorrect.
According to regulations, pigs with skin inflammation must be heat-treated and changed in purpose of use, and a round mark should be stamped. In the case of sick pigs that need to be destroyed, a triangular mark is required.
Immediately, the MARD’s deputy minister requested the Department to identify who and which agency stamped the mark, and affirmed that the Ministry would pursue responsibility to the end, not letting “one bad apple spoil the bunch.”
The MARD’s deputy minister also requested the Department of Livestock and Veterinary to complete the dossier and submit it to the Ministry’s leaders for consideration and transfer to the Ministry of Public Security for handling.
CP Vietnam Addresses Allegations: Admits to Sick Pig Images, Outsourcing Slaughterhouse Shares Insights.
“During a meeting with an interdisciplinary team led by the Hau Giang Province’s Department of Agriculture and Environment, a representative of C.P. Vietnam admitted that the images of pigs with ‘abnormal signs’ were taken at the Dung Nga slaughterhouse facility. The representative confirmed that the pigs in question had been destroyed and cooked to feed fish.”
Local Authorities Investigate Stores and Slaughterhouses Linked to C.P. Vietnam
“The Department of Animal Husbandry and Veterinary Services of Region VII paid a visit to Soc Trang to collect pork samples from C.P. Vietnam’s store in the Soc Trang city.
“Vietnamese Livestock and Veterinary Department Responds to Allegations Against C.P. Vietnam’s Retail Outlet Selling Sick Pigs”
The Director of the Department of Livestock and Veterinary Services has ordered an investigation into allegations that a C.P. Vietnam store in Soc Trang was selling sick pigs. The results of the investigation will be made public.
Revolutionizing the Meat Industry: How Masan MEATLife Sustains Profit Growth with Innovative Farming Techniques
Amid soaring pork prices, Masan MEATLife has successfully implemented advanced breeding technology, boosting productivity and adding approximately 24,000 pigs per year to their output. This significant increase in production translates to an impressive potential revenue of VND 180 billion.
The Poultry Baron: Dabaco’s Profitable Venture
Like the announced estimated profit results, the livestock giant Dabaco (HOSE: DBC) had its third-highest profitable year in its listed history, surging tens of times higher than the abysmal low of the previous year.
