THE BAN: Russia, the top market for U.S. chicken exports, will start banning imports from 19 plants on Monday. Russian Prime Minister Vladimir Putin says the bans are because of ignored warnings about inspections.
THE POLITICS?: Putin says the move has nothing to do with tension over the recent fighting in Georgia and was purely economic. Producers say they're used to being caught in the middle and Russia has announced such bans before.
THE EFFECT: Companies affected, including Tyson Foods Inc., say they'll address any issues but the ban won't hurt business. But they worry if these leads to a larger ban, business could hurt. The industry is suffering from high input costs for grain and fuel and an oversupply of meat on the market that keeps prices down. |