[Asia Economy Reporter Lee Seon-ae] Related stocks such as Maniker and Harim have shown strong performance for the second consecutive day amid forecasts of a sharp rise in chicken prices.
As of 9:04 AM on the 25th, Harim is trading at 3,815 won, up 5.97% from the previous trading day, and Maniker is trading at 2,145 won, up 8.86%.
At the start of trading, Harim rose to 3,830 won, and Maniker surged to 2,265 won.
On the previous day, Maniker closed at 1,975 won, up 13.83% from the previous day, and Harim closed at 3,600 won, up 3.75%. Early in the session, Maniker reached the upper price limit (29.97%) and hit the daily limit up. Harim also rose by up to 17.72%.
This is interpreted as market expectations that chicken prices will rise further after Malaysia announced that it would suspend exports of 3.6 million chickens per month starting in June due to a sharp rise in domestic chicken prices. As the Ukraine war prolongs, countries are strengthening food protectionism under the banner of 'food security.' Indonesia fully suspended palm oil exports last month but resumed them after 25 days, and India, the world's second-largest wheat producer, has banned wheat exports.
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