Marine Harvest says it will rise to challenges of Russian sanctions, sees higher prices by year end
SEAFOODNEWS.COM [Reuters] By Gwladys Fouche - August 27, 2014 -
Marine Harvest, the world's largest fish farmer, is confident it can cope with short-term challenges created by Russian sanctions that are hurting the fish-farming sector, it said today.
The company expects salmon prices to start to pick up at the end of this year as it expects Russian sanctions to have a short-term effect, its chief executive said on Wednesday.
"It's definitely a short-term effect, but we think we will see a redistribution (of the salmon that should have been exported to Russia), and demand in other regions will take the rest," Alf-Helge Aarskog said after presenting the firm's quarterly results.
"We expect salmon prices to start to pick up at the end this year."
Prices for fresh salmon have fallen around 23% since the sanctions went into effect...
To Read Full Story Login Below.