Magnit says limits against coronavirus may hurt supply chains

MOSCOW, Mar 16 (PRIME) -- Possible restrictions on the movement of goods due to the spread of coronavirus may hurt Russian grocery retailer Magnit’s supply chains, the company said in a financial report for 2019, released on Monday.

“The global trade tensions and the appearance of the COVID-19 coronavirus have impacted the Chinese economy and its outlooks. Steps to prevent the spread of the virus may hurt business operations around the globe. Restrictions on the movement of goods and services may hurt (Magnit’s) supply chains,” the document read.

In February, Magnit said it had suspended imports of fruit and vegetables from China due to more complicated logistics because of the spread of coronavirus there.

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