Vion, the Dutch headquartered food company focused on pigmeat processing, posted a loss of €29m for the 2021 financial year, compared with a profit of €52.9m in 2020.

This was on a turnover of €4.6bn, which was down over 6% on the previous year.

African swine fever in Germany frustrated the company’s pigmeat business with China and there were also additional COVID-19 costs.

Meanwhile, Marfrig, which is the second-largest beef processor in the world and headquartered in Brazil, posted record results for 2021.

Total revenue was BRL85bn (€16bn), up 26.5%, with adjusted EBITDA up 20.4% to BRL14.5bn (€2.8bn).

The North American business contributed BRL13.8bn (€2.6bn) of this, while EBITDA for South America actually fell from BRL2bn (€377m) to BRL905m (€171m)

North American results for Q4 were particularly strong, with revenue up 41.5% to BRL17.9bn (€3.4bn) and EBITDA almost doubled at BRL4.2bn (€792m), compared with BRL2.1bn (€396m) in Q4 2020.