[Market Focus] Harim and Other Poultry Stocks Weaken on News of Partial Approval for Brazilian Chicken Imports

On May 23, poultry-related stocks weakened following news that the government would partially allow imports of Brazilian chicken.

As of 2:03 p.m. that day, Maniker shares were trading at 997 won on the Korea Exchange, down 13.6% from the previous trading day. The stock opened lower at 1,140 won and has continued to widen its losses.

At the same time, Harim was also down 3.85% from the previous session, trading at 3,125 won.

On this day, the Ministry of Economy and Finance and the Ministry of Agriculture, Food and Rural Affairs held a price-related vice-ministerial meeting and decided to allow chicken imports from regions in Brazil where avian influenza (AI) has not occurred. This measure was introduced in response to growing concerns over domestic chicken supply. Previously, the government had imposed a complete ban on imports of Brazilian poultry and poultry products after highly pathogenic AI was detected at a Brazilian breeder farm.