Mowi: The salmon market in China stands still

farmed SalmonSalmon. Photo: Marte Christensen / NTB scanpix

The world’s largest salmon farming company, Norwegian Mowi, has shut down its factory in China because the virus outbreak in the country has almost stopped all demand.

Mowi has its own processing facility for salmon in Shanghai, but due to the outbreak of the new corona virus, the company has had to shut down its entire operation and has laid off its employees, writes Finansavisen.

– “We are following the situation closely and will follow the advice of the authorities. The Chinese market has stopped completely, and neither we nor other players are selling anything to China in practice,” says CEO Ivan Vindheim

He still believes that demand will pick up again as soon as the authorities gain control of the virus. According to Vindheim, China represents a market of around 120,000 tonnes of salmon a year. Mowi has its respective market share of this.

Norwegian paint manufacturer Jotun on Monday reopened its two factories in Zhangjiagang and Qingdao after they were closed due to the virus outbreak, writes Dagens Næringsliv. CEO Morten Fon announced Wednesday that it will take a few days for the factories to be fully production.

© NTB Scanpix / #Norway Today


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