[Special Stock] Hanil Feed, Fear of Food Shortage in Europe-Middle East... Meat Price Rise Triples Profits

[Asia Economy Reporter Hyungsoo Park] Hanil Feed is showing strong performance. The news of a sharp increase in profits last year appears to have influenced the stock price.

At 9:24 AM on the 23rd, Hanil Feed was trading at 2,560 won, up 21.09% from the previous day.

Hanil Feed announced that its operating profit on a consolidated basis last year reached 13.6 billion won, a 297.1% increase compared to the previous year. During the same period, sales rose 7.3% to 355.8 billion won, and net profit surged 217.7% to 7.4 billion won.

The company explained that meat sales increased due to rising meat prices.

Russian President Vladimir Putin's order to deploy troops to the Donbas region in eastern Ukraine has heightened the risk of energy crises and food shortages in Europe and the Middle East. According to the U.S. financial services firm Standard & Poor's (S&P) Global, Russia and Ukraine account for 23% of the world's wheat production.

Concerns about food shortages are also growing in the Middle East. The U.S. Department of Agriculture (USDA) expressed concern that food prices in the Middle East and North Africa region have reached their highest levels in the past decade.

This content was produced with the assistance of AI translation services.