Record profits for poultry firms

MALAYSIA - High prices for chicken and eggs are an annoyance for housewives, but a windfall for the companies that produce these food items.

Wholesale prices of chicken were raised to RM5 a kilo during the Chinese New Year and unlike previous years, prices have not dropped after that festive period.

This is the highest price that a businessman said he has seen in the last 10 years that he has been involved in the industry.

At the same time, large eggs are selling for 30 sen each compared with about 22 sen last year.

Not surprisingly, share prices of companies that produce chicken and eggs have been steadily rising this month, possibly ahead of record or near-record profits for the second quarter this year.

Source: theStarOnline

9 August 2005