[Featured Stock] Will Wheat Prices Rise Further? Hantop Shows Strength

[Asia Economy Reporter Junho Hwang] On the 17th, Hantap showed strong performance from the early hours of the stock market.

As of 9:10 AM, Hantap is trading at 3,520 KRW, up 25.71%. The rise appears to be driven by expectations that wheat prices may increase more steeply.

On the 13th (local time), India's Directorate General of Foreign Trade (DGFT) decided to halt wheat exports except for quantities approved by the central government. This decision was made to prioritize securing domestic food supplies amid anticipated reductions in wheat supply due to Russia's invasion of Ukraine.

In addition to India, countries such as Indonesia, Egypt, and Argentina have also restricted exports of palm oil and major grains for similar reasons, fueling expectations of further wheat price increases. According to global market research firm Trading Economics, international wheat prices have risen more than 40% since the beginning of the year.

Hantap operates in the flour milling and feed business. It imports raw materials such as wheat from the United States, Canada, and Australia, then grinds and processes them into flour.