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BAKKAo - P/F Bakkafrost News Story

NOK677.6 0.0  0.0%

Last Trade - 06/04/21

Consumer Defensives
Large Cap
Market Cap £3.35bn
Enterprise Value £3.60bn
Revenue £543.1m
Position in Universe 173rd / 1831

UPDATE 1-Salmon suppliers hit as China halts imports over virus fears

Mon 15th June, 2020 11:46am
(Adds quotes, background)
    OSLO, June 15 (Reuters) - Shares in European salmon
suppliers dropped on Monday after China halted imports of the
fish on fears they might be linked to a new outbreak of the
novel coronavirus at a Beijing market. 
    State-run newspapers reported the virus was discovered on
chopping boards used for imported salmon at Beijing's Xinfadi
market, the source of a cluster of infections that has sparked
fears of a second wave of the pandemic in China. 
    The reports prompted major supermarkets in Beijing to remove
salmon from their shelves on Saturday.  urn:newsml:reuters.com:*:nL4N2DQ02I
    "We can't send any salmon to China now, the market is
closed," Regin Jacobsen, CEO of Oslo-listed salmon supplier
Bakkafrost told Reuters.
    "We have stopped all sales to China and are waiting for the
situation to be clarified," said Stein Martinsen, head of sales
and marketing at Norway Royal Salmon.
    Shares Norway Royal Salmon, Faroe Islands-based Bakkafrost
and other major European supplies Norway's Mowi  MOWI.OL  and
Salmar  SALM.OL  were down 5-7% in early trade.  urn:newsml:reuters.com:*:nL8N2DS1FW
    Both Bakkafrost and Norway Royal Salmon said employees had
been tested for the coronavirus and none had tested positive.
    China accounts for about 5% of global salmon demand, said
Bakkafrost's Jacobsen, adding that volumes would be redirected
to other countries.
    "Of course, it would have a negative impact on the general
market," Jacobsen said.    

 (Reporting by Nerijus Adomaitis, writing by Terje Solsvik;
editing by Jason Neely and Mark Potter)
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70))
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