India's poultry companies surge as govt allows animal feed imports

Skm Egg Products Export India

25/08/2021 08:11

** Shares of Indian poultry cos jump after govt on Tuesday
relaxed import rules to allow shipments of 1.2 million tonnes of
genetically modified (GMD) soymeal  urn:newsml:reuters.com:*:nFWN2PV0NL
    ** Move comes as poultry companies have seen animal feed
prices rise three-fold in a year
    ** Shares of India's biggest poultry producer Venky's
 VENK.NS  rose as much as 10.59% to 2885 rupees, their biggest
intra-day pct gain since June 23
    ** Egg products maker SKM Egg Products Export India
 SKME.NS  jumped as much as 12.8% to 90 rupees, their biggest
intraday pct gain since June 22
    ** Poultry co Simran Farms  SIMF.BO  rose as much as 4.7%
    ** Indian soybean futures  NSBc1  fell 6% on Wednesday

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (Within U.S.
1-646-223-8780, Outside U.S. +91 8067496031); Reuters Messaging:
nallur.sethuraman.thomsonreuters.com@reuters.net))