The leading player in China’s seafood snacks industry is desperately trying to recover from a hammer-blow dealt to its sales by the COVID-19 pandemic.
Xiamen-based China Shenghai Group Ltd. (formerly Shenghai Food Holdings Company Limited) has changed its logo as it seeks to recoup sales lost due to the country’s COVID-19-related lockdown last year, which resulted in lower sales and a sharp drop in its share price.
A major buyer of… Read More
Singaporean upmarket seafood restaurant chain Jumbo Group appears to have U-turned on its targeted expansion in China to focus on its home market.
Jumbo permanently closed a high-profile branch in Shanghai’s Raffles City mall during the COVID-19 lockdown. The firm still operates three Jumbo Seafood Restaurant outlets in Shanghai, as well as one in Beijing and Xi’an, and two in Fuzhou. The firm also operates other brands in China and… Read More
The COVID-19 pandemic has taken its toll on Hong Kong’s seafood trade, but the city retains an outsized role in Asia in promoting more sustainable consumption of seafood. With the second-highest per capita seafood consumption levels in Asia (and eighth-highest globally), the city’s role as a free port and trading hub for the mainland Chinese market also makes it a prime location for changing purchasing habits in greater China.
A… Read More
A major Chinese distant-water fishing and seafood supply chain management firm is blaming COVID-related restrictions and checks at Chinese ports for losses it recorded in the last nine months of 2020.
China Ocean Group Development Limited told investors in a statement that increased “mortality” and “spoilage” of its fish at Chinese ports caused it significant losses. According to the statement, “the group expected… Read More
A Singapore-based firm is seeking funds to build what it believes will be the world’s first specific pathogen-free hatchery.
Desmond Chow, CEO of Singapore Crawfish Pte Ltd, has the goal of producing up to 300,000 crayfish fries per day to satisfy growing regional demand for the crustacean. Chow has filed for patents for an automated system to effectively separate the crayfish adults from their craylings, or eggs. The system also boasts a… Read More
The EUR 25 million (USD 30.2 million) Myanmar Sustainable Aquaculture Program (MYSAP), funded by the European Union and German development agency GIZ, has been suspended after a military coup in the Southeast Asian state, also known as Burma.
MYSAP had already been struggling due to complications caused by the COVID-19 pandemic. The suspension of international aid programs could prove a setback to Myanmar's larger ambitions to grow its seafood… Read More
Chinese distant-water fishing firms are stepping up their international recruiting as they fail to compete for domestic labor on wages.
The latest China Fisheries Yearbook, based on 2019 data, shows declining numbers of workers in the fisheries sector, even as incomes rise. Per capita income for fishermen rose by 6.15 percent in 2019 to CNY 21,108 (USD 3,377, EUR 2,744) – up considerably on the figure for 2015, which was CNY 15,594 (USD… Read More
Janni Zhong is director of the overseas business division at Fujian High Fortune Bio-Tech, based in the Fuqing Export Processing Zone, in Fuzhou, China. The company is a a fishmeal trader with a fish oil refining plant, and it has a GMP plant for omega-3-related products, including for uses in the healthcare industry. Its clients are in the human consumption and healthcare industry, as well as in the aquaculture, aquafeed, and pet food… Read More