Business
Why the Farm Pride (ASX:FRM) share price is up 28% today
The Farm Pride Foods Ltd (ASX: FRM) share price is surging higher today. This comes after the company announced an update in regards to its business operations following the Avian Influenza outbreak.
During the late afternoon trade, shares in the vertically integrated egg producer are up 28.2% to 25 cents.
What did Farm Pride announce?
According to its release, Farm Pride advised that it has received a Revocation of Quarantine Notice from Agriculture Victoria. The notice was in regards to its 2 previously affected sites. This follows the confirmed Avian Influenza outbreak that occurred in August last year at two of its farms.
The issued notice will be welcoming news for the company as the closure of both farms saw it lose 33% of…
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