Bad Fish Deal Sinks Firm

Date: 25/03/2014

New Zealand Auckland-based Oceanic Seafoods went into liquidation after a spoiled sale of almost $3 million worth of tuna to Iran.
The seafood wholesaler bought and then on-sold fish. Oceanic bought 1200 tons of tuna from South Korea to on-sell into Iran. But between ordering and getting the fish, the market value of Iran’s currency devalued and lengthy negotiations ensued.

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