Stock Prices of Thai Chicken Exporters Edge Higher amid Avian Influenza Outbreak in Brazil

The share price of chicken exporters in Thailand edged higher in the morning session after the report of Japan banning poultry from Brazil due to an outbreak of highly pathogenic avian influenza (HPAI) on a non-commercial farm.

Brazil’s agriculture ministry and meat industry association ABPA questioned Japan’s decision, saying that the world’s third-largest economy does not currently import poultry from the state and the ban is not in line with the guidelines of the World Organization for Animal Health (WHOA).

Still, the announcement does have a positive sentiment in the Thai exporters, while the market on Friday session saw its main bourse SET Index gaining more than 1% after losing nearly 4% this month.

The share price of Charoen Pokphand Foods Plc. (SET: CPF) rose THB0.50 or 2.59% to close the morning session at THB19.80 per share.

Meanwhile, GFPT Plc. (SET: GFPT) gained THB0.30 or 2.42% to THB12.70 per share and Betagro Plc. (SET: BTG) increased THB0.50 or 1.80% to THB28.25 per share.