Shares of Venky’s India, the country’s biggest poultry producer, dropped more than four per cent on Thursday, January 7, to their lowest level in two months, after the bird flu outbreak was reported in four states. Shares of Venky’s India were on track to close lower for fourth session in a row on Thursday. The government said in a statement that avian influenza, also known as bird flu, was reported in Madhya Pradesh, Rajasthan, Himachal Pradesh and Kerala.
Shares of Venky’s were last seen trading at Rs 1,531.30, down 1.77 per cent on the BSE. Earlier in the day, it hit a low of Rs 1,494.70.
Indian soybean futures fell more than one per cent on January 7 amid fears on the demand for soymeal from the poultry industry could falter due to the outbreak of bird flu.
Kerala has started culling chickens and ducks to contain the bird flu virus, while Madhya Pradesh government has banned imports of poultry products from Kerala for 10 days.