India's Biggest Poultry Producer Hits Two-month Low On Bird Flu Outbreak

Shares of India's biggest poultry producer Venky's dropped more than 4% 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 1,515.95 rupees, down 2.85%, after hitting a low of 1495.10 rupees earlier in the day.

Avian influenza, also known as bird flu, was reported in the states of Madhya Pradesh, Rajasthan, Himachal Pradesh and Kerala, the federal 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 soybean futures fell more than 1% on Thursday on fears demand for soymeal from the poultry industry could falter due to the bird flu outbreak.

(Reuters)