Cake decorations and parties took a back seat in China as consumers stopped socialising in the midst of the Covid-19 outbreak, and the change in demand has been costly for food company RFG, which saw an 11.3% decline in exports of its canned fruit. This week RFG Holdings, which changed its name from Rhodes Food Group, released a trading update that showed it had made limited exports to China since January.RFG's eastern hemisphere market includes Australia and Asia, which make up 50% and 35% of the company's sales respectively.In an investor call after the update, RFG CEO Bruce Henderson said at least 17.5% of the company's canned fruit exports went to China.RFG produces fresh, frozen and long-life food brands, which include Bull Brand, Magpie and Ma Baker. The company's canned peaches are its biggest seller in China and are mainly used for decorative purposes on cakes or in products that are consumed in social settings outside homes."It's really a premium product that goes i...
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