JAKARTA (Indonesia Today) – Shares of agribusiness giant PT Japfa Comfeed Indonesia Tbk (JPFA) dropped 3.37% to Rp1435 per share this morning as investors concern over the DOC (day-old chicken) price and flood issue.
Bisnis Indonesia reported this morning that price of DOC has gone up 50% due to the floods, and that cost farming industry costly.
Floods take tolls of growing price of DOC and other products due to disrupstion of transportation of goods in various parts of the country.
The rupiah further weakening currently reaches above Rp12,000 against the US Dollar is also a factor dragging down Japfa shares.
While its peers Charoen Pokphand Indonesia (CPIN) fell 1.14% to Rp3895 while Malindo Feedmill (MAIN) was traded flat at Rp3,480.