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H7N9 causes $6.5b loss to poultry industry

By Zheng Yangpeng | chinadaily.com.cn | Updated: 2013-05-13 14:10

The outbreak of the H7N9 virus has caused more than 40 billion yuan ($6.5 billion) in losses to 皇冠体育app's poultry industry as demand for chicken has plunged, according to the Ministry of .

The ministry said that in the first week of May, the average retail price of chicken fell 9.6 percent over the same period in April.

However, analysts said the price might pick up significantly in June.

Shares among 皇冠体育app-listed chicken processors have been rebounding on hopes that the worst will soon be over. Shenzhen-d shares in New Hope Liuhe climbed 1.5 percent on Friday and shares in 皇冠体育app KFC supplier Dachan (Asia) climbed 3.8 percent in Hong Kong while KFC parent Yum! rose 1.9 percent in New York.

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