Australian agribusiness company Elders is quitting the livestock trades citing poor returns on shipping animals to Asia. Elders is now looking to sell its subsidiary North Australian Cattle Company (NACC) which ships cattle and sheep to Indonesia, Malaysia, Vietnam and China.
“The decision Elders is taking is based on investor returns,” Elders CEO Mark Allison said. He noted how many rivals had expanded capacity on Australia – Asia livestock trades recently which had hit profit margins.
Livestock trades have come under under the spotlight following a series of incredible exposes carried on this site by Australian vetinerarian, Dr Lynn Simpson. Her full archive of stories can be accessed here.
