UK: Global turmoil hits food company share prices | Progresiv
Turmoil in global financial markets has hit food companies’ share prices and could directly impact exporters, according to a leading analyst. 
Shockwaves were felt across the world’s financial markets after China’s stock market fell, prompting sharp drops in share prices on ‘Black Monday’(August 24).
Although the country’s decision to cut its interest rate boosted global prices last week, there were still fears over the impact of China’s slowing growth.
A number of large UK food companies listed on the London Stock Exchange could be impacted, said Julian Wild, head of the food team at law firm Rollits, ahead of yesterday’s rally.
Large public firms such as Premier Foods, Associated British Foods and Hilton Food Group could be vulnerable.
Many food companies have targeted the Chinese retail market, which has presented opportunity with the growth of an urban middle class in major cities such as Shanghai.
Premier Foods was one of the manufacturers that had exploited this potential and launched Ambrosia rice in China last year as part of its bid to step up global sales.
