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Re: [sharechat] Recomendation Buy AFFCO?


From: Paul.Menneer@sealedair.com
Date: Sun, 25 Feb 2001 18:08:26 +1200



While on the subject of AFFCO. Can anyone comment on the AGM held last
week. What was (and wasn't) said. Unfortunately, I was overseas and despite
scanning the newspapers since my return I have not seen anything. Any
comments much appreciated.
Thanks
Paul Menneer





Marilyn Munroe <who.c@res.co.nz>@sharechat.co.nz on 25/02/2001 08:17:50

Please respond to sharechat@sharechat.co.nz

Sent by:  owner-sharechat@sharechat.co.nz


To:   Sharechat <sharechat@sharechat.co.nz>
cc:

Subject:  [sharechat] Recomendation Buy AFFCO?


The recent outbreak of foot and mouth disease in U K is a disaster for
their farmers. The government has imposed a complete movement ban on
livestock and a slaughter ban. This will cause a complete disruption to the
U K meat industry until the foot & mouth outbreak is controlled.

There will be a dramatic shortage of edible protein. The alternatives are
Tofu burgers or imported meats. This will make any old bit of scrawny
mutton from N Z very valuable.
Any sales manager for a N Z meat exporter who has had the dumb luck to send
meat to the U K on consignment (without a pre arranged buyer) will be
dancing cart wheels.

The big gamble now is how long will this all last? If meat can be got away
on the next boat and the epidemic is still raging when the meat arrives in
the U K, bonanza! If on the other hand the epidemic has cleared when the N
Z meat arrives, and the back log of animals for slaughter is surging
through the U K system, nemesis!

So the dilemma for the investor is, will AFFCO participate in this gold
rush, and if they do will the claim be worked out by the time they get
there?

The best long term outcome would be if U K consumers already jumpy over mad
cow disease started to question the economic logic of supporting European
Farmers through higher prices and taxes.

Boop-boop-de-do Marilyn

*




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