China halts beef imports from Australian firm over banned substance – Reuters
|China’s General Administration of Customs said in a statement late Thursday, they have announced a ban on imports of beef from Australian firm John Dee Warwick.
This comes after they detected a banned chloramphenicol substance in some of the company’s beef loin.
The Customs said they requested a full investigation and a report to China within 45 days from the Australian side after it detected the banned substance.
Market reaction
The aussie dollar is little affected by the above news, as AUD/USD keeps its overnight range trade intact after a wild ride witnessed on the Fed Chair Jerome Powell’s speech.
At the press time, the spot adds 0.08% to trade at 0.7265.
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