Stocks in Chinese liquor companies heavily impacted Monday by an alleged additive scandal saw a slight rebound Tuesday, though Jiugui Liquor, a high-end liquor producer, did not resume trading after a media report revealed that the company's products may contain excessive plasticizer.
Plasticizer is a chemical which experts say may cause harm to human immune and reproductive systems.
A report on 21cbh.com, a news portal under Guangzhou-based newspaper 21 Century Business Herald, said Monday a test report found that one kilogram of Jiugui liquor contains 1.08 milligrams of DBP, a type of plasticizer, an amount which is 260 percent higher than the national industry standard.
The report has been widely circulated on major domestic news portals.
Stocks of liquor companies on Monday witnessed a major slump, with several of them reaching their daily limit of 10 percent. However, some of the liquor stocks began to rebound on Tuesday. Stocks of high-end liquor producer Kweichow Moutai gained 0.89 percent Tuesday.
The China Alcoholic Drinks Association claimed late Monday that though most domestic liquor products contain plasticizers, the amount they contain is certainly below food industry standards.
The industry association said that the plasticizer found in liquor is mainly caused by the use of plastic in the liquor production process, while the fermenting process of the liquor itself does not generate plasticizer.
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