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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Mr_X who wrote (13340)4/27/2000 8:56:00 PM
From: Mad2  Read Replies (2) of 18998
 
BTW, the Japanese have detected antibodies of hoof and mouth on two farms in Japan.....which they destroyed the animals and buildings, quarranting a 50 km radius.
mad2

THE KOREA HERALD

March 30, 2000, Thursday

LENGTH: 628 words

HEADLINE: Disease threatens livestock exports

BYLINE: By Yoo Cheong-mo Staff reporter

BODY:
ÿÿÿÿA suspected outbreak of foot-and-mouth disease in northwestern Kyonggi Province is expected to severely harm Korea's livestock exports and domestic consumption, resulting in enormous damage to local farmers, feed grain producers, dairy firms and restaurants, analysts warned yesterday.

Following Japan's recent move, Taiwan yesterday slapped bans on Korean beef and pork after a suspected outbreak of foot and mouth disease among cattle in Paju, some 50 km north of Seoul, the Ministry of Agriculture and Forestry said. On Monday, Japan temporarily suspended customs clearance and quarantine inspection of beef and pork from Korea.

In 1999, Japan imported pork worth $347 million and beef worth $3.5 million from Korea. Taiwan imported $2.7 million worth of pork from Korea last year while Japan accounts for 95 percent of Korea's entire port exports. The Seoul government had aimed to increase pork exports to Japan by 25 percent to $435 million this year. The ministry said it has started purchasing pigs from exporters to prevent them from causing a plunge in pork prices by releasing pigs that cannot be exported. If the contagious disease that broke out in Paju is determined as foot-and-mouth disease, it will deal a harsh blow not only to livestock farmers but to a large number of related industries.

According to experts, it takes up to 10 years for a country infected with the virus to rid itself completely of the disease. During the period, livestock exports will be banned and domestic consumption of meat will fall sharply. In 1997, the epidemic broke out in Taiwan, putting it on the watch list of the World Organization of Animal Health. More than 80 percent of Taiwan's hog population was found to be infected with the disease, forcing the government to destroy 3.6 million animals. The total damage Taiwan sustained is estimated at about 3.5 trillion won and 200,000 people lost their jobs.

"If the disease in Paju is indeed foot-and-mouth disease, it will cause a devastating effect on many industries, not just livestock exporters," an industry analyst said. Following the news of the epidemic outbreak, pork prices have already fallen from 2,700 won per kilogram to 2,000 won. Meanwhile, the ministry said that it will take strong measures to prevent the spread of the vesicular disease among livestock in Kyonggi Province. Foot-and-mouth disease causes blisters on the mouth and feet of livestock and leads to death. The disease, however, is not harmful to humans.

The ministry set up an emergency headquarters for the outbreak, headed by Vice Minister Kim Dong-keun, and sought cooperation from the ministries of defense and government administration and home affairs to prevent further spread south of the Han River.

Minister Kim Sung-hoon said the possibility of the disease turning out to be a highly contagious epidemic cannot be ruled out, adding that the ministry is still trying to determine the nature of the disease. A member of a ministry task force consisting of veterinary surgeons dispatched to Paju, Kyonggi Province, said his team has not yet determined whether the disease is a highly contagious epidemic. A full examination will take about one week.

The government quarantined 78,000 heads of cattle, pigs and deer in areas within a 10-kilometer radius from the place where the first case was detected. Authorities are also looking into whether the disease was spread by tourist from China, Taiwan and Thailand, by smuggled livestock, yellow dust from China or antelopes or wild boars.

The meat of contaminated livestock does not harm humans, a ministry official said, adding that foot-and-mouth and any other similar blister-causing livestock disease could not be transmitted to human beings.

LANGUAGE: ENGLISH

LOAD-DATE: March 29, 2000 ÿ
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