In light of the turmoil affecting infant formula company, Bellamy’s Austraila (which is in voluntary suspension until 13 January), the recently listed Murray River Organics
(ASX:MRG) has tried to alleviate market concerns.
Shares in Murray River Organics (which listed on 16 December), were issued at $1.30, but have since fallen to $1.18 at yesterday’s close of trade.
Murray River Organics’ Managing Director, Erling Sorensen, says his company is in a very different position to Bellamy’s in that it doesn’t sell directly to customers in China.
In fact, Sorensen says China is not a market that they are “in any way reliant on”, as its sales to China account for less than 2 percent of its total sales.
Murray River Organics emphasised that it is focused on mature organic foods markets such as the US, Japan and South Korea, and that it has full control of its supply chain.
