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India’s biggest poultry producer hits two-month low due to bird flu outbreak

Shares of Venky, India’s biggest poultry producer, dropped more than 4 percent on 7 January to their lowest level in two months after outbreaks of bird flu were reported.

7 January 2021, at 7:49am

Reuters reports that avian influenza outbreaks have been reported in four Indian states.

Venky's shares fell for the fourth straight day on Thursday and were trading at 1,515.95 rupees, down 2.85 percent, after hitting a low of 1495.10 rupees earlier in the day.

Avian influenza, also known as bird flu, was reported in the states of Madhya Pradesh, Rajasthan, Himachal Pradesh and Kerala, the federal government said in a statement.

Kerala has started culling chickens and ducks to contain the virus, while Madhya Pradesh has banned imports of poultry products from Kerala for 10 days.

Indian soybean futures fell more than 1 percent on Thursday on fears demand for soymeal from the poultry industry could falter due to the bird flu outbreak.

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