US-based Tyson Foods is currently seeking a buyer for its Chinese poultry business.
The sale signifies growing worries among multinational food players that the mainland economy is on the verge of a major slowdown which could translate to lower consumption of meat products. Earlier in May, Cargill sold its poultry business in mainland China to DCP Capital exiting from this market.
On the home turf, Tyson is also facing challenges as its earnings deteriorate which led to the closure of 4 of its facilities in the US.
Tyson started its operation in 2001 in China, and in recent years struggle with profitability especially for its poultry business.