Share prices of chicken exporters in the Thai stock market rose higher on Tuesday after the world’s number one exporter is battling with H5N1 in wild birds.
Brazil, which is the world’s biggest chicken meat exporter and third in chicken farms declared a state of animal health emergency for 180 days as the country faced its first ever detection of the highly pathogenic avian influenza virus in wild birds.
According to the guidelines provided by the World Organization for Animal Health, the detection of H5N1 infection, which is a subtype of avian flu in wild birds, does not trigger an export ban. However, it would result in the entire flock being killed to prevent the infection from spreading. Moreover, it could trigger trade restrictions as well.
Thailand is the world’s fourth biggest exporter and should benefit from this incident.
As of 15:25 BKK time on Tuesday, the share price of Charoen Pokphand Foods Pcl (SET: CPF) rose THB0.40 or 2.06% to THB19.80 per share.
GFPT Pcl (SET: GFPT) gained THB0.60 or 5.50% to THB11.50 per share. Meanwhile, Betagro Pcl (SET: BTG) increased by THB1.00 oer 3.92% to THB26.50 per share and Thaifoods Group Pcl (SET: TFG) edged THB0.14 or 3.40% higher to THB4.26 per share.
