[Market Focus] Brazilian Chicken Import Ban... Harim Surges Over 11%

On May 19, Harim saw strong gains in early trading. The company is expected to benefit from the suspension of Brazilian chicken imports, which account for about 90% of domestic chicken imports.

As of 9:18 a.m. on this day, Harim was trading at 3,385 won, up 350 won (11.53%) from the previous trading day.

According to the Ministry of Agriculture, Food and Rural Affairs, the government decided to completely ban imports of Brazilian hatching eggs (eggs for chick incubation), table eggs, day-old chicks, poultry meat, and related products starting May 17. This measure was taken in response to the outbreak of highly pathogenic avian influenza (HPAI) at a Brazilian breeder farm.

Brazilian chicken accounts for as much as 88.5% of domestic chicken imports. As a result, there are expectations of supply shortages and subsequent price increases for domestic chicken, leading to the analysis that Harim will benefit as a result.