Crops Greatly Affected by Disastrous Weather in China

Translator: Lish
Proofreader: Janyvo

On November 19, concerns were raised about the damage of sugar beets caused by bad weather in an investor interactive platform. China Oil and Foodstuffs Corporation (COFCO, 600737. SH) responded by saying that they missed out harvest window of sugar crops due to disastrous weather, which was the direct cause of the company’s loss.

After the “bad weather announcement”, COFCO further explained the loss from an industrial standpoint. For example, sugar crops have a strict harvesting window which, if missed, will have a significant impact on the quality of the raw material (mainly sugar content). Moreover, Agricultural insurance has been developing rapidly in China in the past few years. Still, it is not enough for the agriculture sector to be completely “vulnerable-free from nature”. The risk exposure needs to be shared by all the industry chain participants. As a leading agricultural enterprise, the company will inevitably suffer certain losses in the face of extreme weather. And following the disaster, the company had all their cadres and employees working around the clock and they are harvesting raw materials as we speak.

In recent years, anger and resentment are ever-growing in mainland China, especially after the Chinese Communist Party (CCP) released the Covid-virus.  Extreme disastrous weather continues to ramp up the country, and the production of staple foods has been reduced significantly year after year, and now even the sugar crops have been affected. 

As Mr. Miles Wengui said, if the Chinese Communist Party is not eradicated, miserable days for Laobaixing are still far from coming.

Source: 今年灾害天气多,吃糖都恐受影响 – GNEWS

Published by Lish

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