Loading…
India's poultry industry has lost about 13 billion rupees ($182 million) over three weeks after social media rumours linked chickens to coronavirus. Chicken prices have nearly halved and demand has dropped, while soybean and corn prices have fallen up to 8%.
Small farmers are cutting production in response.
Lower chicken demand and reduced flock sizes weaken feed demand for corn and soybean meal in India, and could tighten poultry supply and lift prices from April.
cnbc.comReutersFeb 18, 2020Not enough comparable past events yet for a historical read.
After 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 50 past bearish disease events, Soybeans moved a median +0.5% over 5 sessions (58% higher; middle half -1.7% to +2.4%), and +0.0% 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.
