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South Korea's agriculture ministry reported that consumer poultry prices kept rising sharply as the country culled birds near avian influenza-infected farms. Egg consumer prices were up 43.3% on the year over the past week, with producer egg prices up 91.4%, and chicken and duck meat up 15.9% and 36.1%.
Authorities have culled 25.4 million poultry since late November, and the government plans to import 50,000 tons of tariff-free egg products through June.
Heavy culling of layers and broilers in South Korea tightens domestic poultry and egg supply, lifting prices and likely boosting demand for imports, while tariff-free egg imports partly offset the shortfall. Continued disease pressure supports poultry-derived feed demand outlooks but reduces domestic poultry output that uses feed.
en.yna.co.krKang Yoon-seungFeb 5, 2021
forexcrunch.comFX StreetFeb 26, 2021
koreatimes.co.krFeb 5, 2021Not enough comparable past events yet for a historical read.
After 156 past neutral events of any kind, Brazilian Real (BRL per USD) moved a median +0.3% over 5 sessions (56% higher; middle half -0.9% to +1.4%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
