Shares of poultry producer Venky’s hits 2-month low on bird flu outbreak

Shares of India’s biggest poultry producer Venky’s dropped more than 4 per cent on Thursday to their lowest level in two months after an outbreak of avian influenza was reported in four states.

Venky’s shares fell for the fourth straight day on Thursday and were trading at Rs 1,515.95, down 2.85 per cent, after hitting a low of Rs 1,495.10 earlier in the day.

Avian influenza, also known as bird flu, was reported in Madhya Pradesh, Rajasthan, Himachal Pradesh and Kerala, the Maharashtra 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 soyabean futures fell more than 1 per cent on Thursday on fears demand for soyameal from the poultry industry could falter due to the bird flu outbreak.

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