|

A worker is cleaning the henhouse, Thailand, July 7, 2004.(Xinhua/AFP
Photo)
BANGKOK, July 7 (Xinhuanet) -- The
new outbreak of bird flu in Thailand's central Ayutthaya province will likely
hit the country's poultry industry with shares of its two major chicken
exporters plummeted, local media reported Wednesday.
According to the Business Day website, shares of Thailand's
two major chicken exporters Charoen Pokphand Foods Plc (CPF) and GFPT closed
0.12 baht lower to 3.94 baht and 0.6 baht lower to 14.1 baht, respectively on
Tuesday.
Earlier in the day, the Thai government confirmed
the fresh outbreak of bird flu after thousands of chickens died in a farm
located in Pak Hai district of Ayutthaya.
Amid fears that
the country's export industry will be wrecked again by the deadly bird flu
disease, the shares of some of the listed poultry farming companies went down.
The bird flu crisis at the beginning of the year has caused
losses of billions of bahts and a 0.5 percent drop in the first quarter gross
domestic product (GDP).
The National Economic and
Social Development Board (NESDB) said that if it was not for the bird flu,
Thailand's first quarter GDP would have been 7 percent against the registered
6.5 percent.
The new outbreak has inflicted a negative
impact on the short-term sentiment in the market as Thailand could not announce
the end of the bird flu outbreak, ahead of being certified by the World Health
Organization (WHO), Nutchjarin Kasemsukworarat, an analyst at SCB Securities was
quoted by the Business Day website as saying.
Thailand's
main importers of poultry products such as Japan and the European Union banned
the import of poultry products during the previous outbreak of bird
flu.
To ward off the effects of the bird flu crisis,
the CPF and GFPT turned to producing more processed chicken for
exports.
An analyst at KGI Securities Plc said the new
outbreak will cause low revenue for CPF.
However,
it will not affect the company's exports as CPF does not export frozen chicken
but focuses on processed chicken, he added. Enditem |