Woolworths - Listeria concerns over frozen rice product
Woolworths [WHL] is busy recalling its frozen savoury rice mix. The sweetcorn in the mix is imported from the Greenyard factory in Hungary, which apparently could’ve been the source of a Listeria outbreak in the country.
From what we can see, this looks mostly like a precautionary measure. A global recall was issued by the Hungarian Food Safety Agency.
Woolworths does have strict protocols in place and have had for several years. They also independently have their food products tested randomly as an additional measure, which includes testing for Listeria. The frozen savoury rice product has been tested and found to be compliant according to Woolworths.
We don’t expect this to have a lasting effect on the share price - currently WHL is down 1.06% trading at R54.07.
Credit: Graph Provided by Sharenet Advanced Online Charts
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Stephan heads up Sharenet’s trading desk and is a full-time trader and portfolio analyst, also responsible for equity research across industries. Stephan developed his passion for the markets while working in the Stockbroking division of Standard Bank and is especially passionate about CFD trading. Stephan studied at the University of Stellenbosch and completed a BComm Honours (Business Management) with a focus in Portfolio Management and Bonds. He has also passed the JSE Equity Trader’s Exam, RE5 (Representative) and RE1 (Key individual) Exams as well as the Registered Persons Exams (RPEs) in order to give advice on equities.