May 15, 2013

China's poultry sector has lost more than US$6.5 billion five months after the outbreak of the H7N9 virus.

According to the Ministry of Agriculture the figure includes tens of millions of dollars in losses reported last month by several of China's largest poultry processing companies as demand for poultry continues to fall. The decline in the average retail price of chicken continued in May, with prices falling 9.6% in the first week of the month compared with the first week of April.

Optimism among investors that the effects of the outbreak may be close to ending is emerging on the Chinese stock market. Shares of two Chinese poultry companies climbed by more than 1.5% each in recent days as stock analysts predicted that chicken prices may rise significantly next month.

The human toll from bird-to-human transmission of H7N9 currently stands at 33 deaths and at least 130 confirmed infections, according to the newspapers.