[Special Stock] Sinsong Holdings and Sempio, Price Rise Due to Floods in Brazil, the World's Largest Soybean Producer↑

Soybean-related stocks are gaining attention following news of the worst flood in 80 years in Brazil, the world's largest soybean producer.

As of 2:08 PM on the 7th, Shinsong Holdings is trading at 7,420 KRW, up 4.8% from the previous day. Sempio is also trading at 50,900 KRW, up 2.62%.

According to foreign media, heavy rains have been pouring in Rio Grande do Sul, Brazil, since the 29th of last month, causing successive flood damages. According to the Brazilian Geological Survey (BGS), this flood has surpassed the scale of the great flood in Brazil in 1941.

As Brazil exported 100 million tons of soybeans last year and is the world's largest soybean producer, there are concerns that this flood could affect international soybean prices. Rio Grande do Sul is the third largest soybean producing region in Brazil. Before the heavy rains, Brazilian state crop agencies estimated the soybean production in this state to be between 21.89 million and 22.25 million tons. However, according to foreign media, it is estimated that 70-80% of soybeans in severely affected areas will be damaged.

Meanwhile, Shinsong Holdings purchases grains through its 100% subsidiary Shinsong Industry and sells and distributes them worldwide. It is known to be able to supply grains at stable prices through overseas government-owned corporations. Sempio is a food company that processes soybeans to produce and sell fermented sauces.