Russian Sea may abandon aquaculture business after losses due to sanctions
SEAFOODNEWS.COM by Eugene Gerden Sept. 25, 2014
Russian Sea is considering selling it salmon aquaculture business.
The company cited the current unfavourable situation in the Russian economy and the company’s losses that have been caused by the imposition of sanctions, according to sources close to the company.
It is planned that at the initial stage the company will sell its business for the production of trout, and then later Atlantic salmon.
In case of trout, the company plans to start a search for buyers for its Segozerskoye fish farm, one of the largest fish farms in Karelia, which in recent years has become uncompetitive with the trout supplies from Norway.
Russian Sea has been running an aquaculture business since 2007 ...
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