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Broiler futures trading volume jumps sixhold on yr due to bird flu.

TOKYO, Feb. 12 Kyodo

The volume of domestic broiler futures trading has increased sharply in Japan following the outbreak of bird flu in Asian countries and the United States, which has fueled expectations for higher prices of chicken meat, according to data by the Fukuoka Futures Exchange.

The broiler futures trading volume on the exchange, the nation's only market for domestic broiler futures, surged more than six times from year-before levels in the period from Jan. 22, when Japan suspended poultry imports from Thailand, through Thursday.

On Jan. 23, the volume of such trading doubled from the previous day to 117 contract units. One unit is 1,200 kilograms.

The volume rose to about 2,500 units on Jan. 28 and some 3,500 units on Tuesday, bringing the Jan. 23-Feb. 12 total to 24,457 units, up 6.1-fold from year-earlier levels.

The trading price per 1 kg has jumped from 433-501 yen on Jan. 22 to 486-626 yen on Monday.

''The trading volume surge this time was largely attributable to the suspension of poultry imports in the wake of the avian flu outbreak,'' said Yasukiyo Seki, senior managing director of the exchange.
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Publication:Japan Weekly Monitor
Date:Feb 17, 2004
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