Nippon Suisan sees major opportunities in farmed salmon; expands production 66%, seeks acquisitions
SEAFOODNEWS.COM [Bloomberg] By Yuriy Humber and Ichiro Suzuki December 15, 2014
What Does Vladimir Putin Have to Do With the Price of Fish? At least when it comes to salmon, quite a lot.
In the tit-for-tat sanctions between Russia and nations opposing its annexation of Crimea, one retaliation by President Vladimir Putin in August was to include fish in a banned list of products from the European Union, Norway, Canada, the U. S. and Australia.
That made Chilean salmon farmers happy as Russia came knocking to replace the 110,000 tons of the fish it buys from Norway alone in a year, driving up prices.
But that Didn’t last. The ruble’s 29 percent slump against the dollar since Oct. 1 caused Russian demand to plunge, said Akiyo Matono, managing executive officer at Nippon Suisan Kaisha Ltd....
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