Pork processor Cranswick eyes markets in Australia and China

UK pork processor Cranswick has profited from rising exports in the last year, creating an interest in exploiting the Far East and Australia markets.

Cranswick made this course announcement after revealing €46.6 million earnings (up 6.2%) on revenue of €1.02 billion (up 8.2%) from the year 2011 to the end of March 2012.

Cranswick already exports to China via Hong Kong and Singapore, but wants to export its produce directly to China. The company, in addition to exporting the US, is looking to expand its shipping to Australia, pending approval from Canberra.

Australia currently imports 185,000 tonnes of pork to satisfy its increasing pork appetite.

In August Cranswick chief executive Bernard Hoggarth will stand down and Adam Crouch will succeed him.

Source: Agrimoney