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Philippine Poultry Stocks Attracting Investor Interest

22 September 2006

THE PHILIPPINES - Poultry-related stocks attracted some interest yesterday after an announcement that prices of broiler chicken throughout the country had gone up by between 50 and 65 sen.

Domestic Trade and Consumer Affairs Minister Datuk Shafie Apdal said the increase was “perfectly all right” as chicken was still sold below the ceiling price set.

An analyst said the interest in poultry counters had been revived after reports on the rise in the prices of broiler chicken. Egg prices are also higher compared with a year ago.

“The rise in product prices could translate into even higher profits for these companies in the near term,” an analyst said.

“That would provide a domestic catalyst to push up earnings,” he said, adding that the more efficiently run poultry firms would benefit most.

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Source: The Star Online

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