Tyson Foods Shares Jump on Company’s Approval to Sell U.S. Poultry Products to China

Posted on

According to a Reuters article this week, Tyson Foods has received approval to sell U.S. poultry products to China.

The report, which cites Bernie Adcock, Tyson Foods’ chief supply chain officer for poultry, revealed that Tyson is expected to start taking orders in early 2020 and can start shipping from all of its 36 processing plants.

It was in 2015 that China had banned American poultry after an outbreak of avian flu. The ban was lifted lat month.
Shares of Tyson Foods rose more than 2% on Monday after Reuters reported the news.

The final step is to get approval for labels from U.S. authorities before the end of 2019, Tyson Foods said, according to Reuters.

The U.S. and China are in phase one of a trade deal.

U.S. Trade Representative Robert Lighthizer told CBS News’ Margaret Brennan on “Face The Nation” this past weekend that the China agreement, coupled with the new United States Mexico Canada Agreement, amounts to “probably the most momentous day in trade history ever.” But experts are striking a more cautious tone in assessing the longer-term impact.

Disclaimer: We have no position in Tyson Foods, Inc. (NYSE: TSN) and have not been compensated for this article.