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Poultry industry losses in India are estimated near ₹700 crore in the first two weeks of March as coronavirus fears and a bird flu outbreak in Kerala and Karnataka hit demand. Chicken prices have fallen from ₹100-150 to ₹20-10 per kg and egg prices from ₹4-5 to below ₹1 in most regions.
Collapsing poultry demand and prices reduce feed purchases by Indian producers, weakening demand for maize and soymeal used in feed. The effect is bearish for local feed ingredient prices while the demand slump lasts.
theprint.inSamyak PandeyMar 20, 2020After 175 past bearish disease events, Corn moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.5%), and +0.6% over 20.
After 167 past bearish disease events, Soybean Meal moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% 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.
