April 8, 2024

Danish company Scandinavia Farms Invest, declares bankruptcy in China

Scandinavia Farms Invest, a Danish company, has declared bankruptcy after investing at least half a billion Danish crowns in swine farms in China over the span of a few years, ScandAsia reported.

The company operated a major swine farm located between Beijing and Shanghai.

A culmination of factors contributed to the farm's decline, including challenging market conditions such as a rise in feed prices coupled with a decrease in the price of pork. Additionally, the impact of COVID-19 and an outbreak of African swine fever resulted in the loss of an entire swine herd.

The announcement was made through a press statement issued by the owners.

-      ScandAsia