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Russia major fish trader stocks 4% up amid falling Norway shares

August 07, 2014, 17:18 UTC+3 MOSCOW
Russian government has banned fully supplies of beef, pork, poultry meat, fish, cheeses, milk, fruit and vegetables from Australia, Canada, the EU, the US and Norway for a year
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© ITAR-TASS / Sergey Krasnouhov

MOSCOW, August 07./ITAR-TASS/. Stocks of Russian major fish trader Russkoye More (Russian sea) soared by 4.12% to 50 roubles per share at Moscow Exchange amid dropping Norwegian salmon producers’ stocks and Russia’s ban imposed on fish import from Norway.

For instance, securities of largest world salmon producer Marine Harvest plummeted 12% Stock prices of other Norwegian fish traders, such as Leroy Seafood have dropped by 8.3%, Cermaq - 8.2% and Salmar - 7.4% Meanwhile, Oslo Seafood index which includes stocks of 13 Norwegian companies has fallen down to a record rate at Thursday’s trading session after Russia had imposed a ban on import of several food products from the EU states, the United States, Australia and Norway, business news agency Bloomberg reported. This index has slumped by 8.8% to 412.84 points according to reports at 11.30am GMT.

Russian government has banned fully supplies of beef, pork, poultry meat, fish, cheeses, milk, fruit and vegetables from Australia, Canada, the EU, the US and Norway for a year. Meanwhile, Russian retaliatory sanctions will not spread on child’s food and goods which people will buy abroad.

Russkoye More Group is engaged in sale of fish and other seafood and in aquaculture breeding fish at their farms in Russia’s northern Murmansk region and north-western Republic of Karelia.

Russkoye More consolidated revenues exceeded 18 billion roubles ($498.4 million) and gross income reached 2.3 billion roubles ($63.6 million) in 2013.

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