Smithfield Foods, which has Chinese ownership, said it would close its Vernon, Calif., pork processing plant and reduce the number of hogs it produces in the West. The company blamed the high cost of doing business in California and rising animal feed prices. High utility costs and new laws in California also contributed to the decision.
Although the closure won’t take place until early 2023, this means less protein will be available in a world with food shortages. It could also drive up prices of pork.
Published 6/12/2022. Read full article.