In a landmark consolidation in China’s seafood corporate sector, tilapia farming firm Baiyang Industrial Investment Group has entered into a “cooperation agreement” with state-owned conglomerate Qingdao Guoxin Development (Group) Co. Ltd.… Read More
A senior official in China’s Agricultural Ministry has sought to ease public fears in China over a seafood supply shortage. The ministry’s deputy head of fishery market regulation, Jiang Kai Yong, provided assurances in a press briefing that stockpiles of seafood are still flowing into China’s cities.
In his comments, Jian said he hoped to instill more calm in China’s consumer market …
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One of China’s leading fishery firms is flagging poor results for 2019 due to a combination of reduced trawler subsidies, global oversupply of tuna, and a failed investment in an insurance firm.
CNFC Overseas Fishery Co Ltd, the listed arm of China National Fisheries Co, is flagging profits of between CNY 18 million and CNY 25 million (USD 2.5 million to USD 3.5 million, EUR 2.6 million and EUR 3.6 million), a drop of between 56 percent… Read More
Deep-sea aquaculture projects in Cambodia are being planned by a major Chinese distant-water fishing operator as it seeks higher yields from self-sourced product to supplement its extensive distribution business… Read More
The financial repercussions of the coronavirus is starting to take a bite out of China’s domestic seafood sector.
Closed for dining, a leading seafood restaurant chain in the country’s south has started to discount and sell off its inventories. The Yu Min Xin Cun (also trading as Village Fisherman) chain of traditional Cantonese-style restaurants in Guangzhou is now selling grouper at CNY 299 (USD 42.80, 3948) per fish, when it… Read More
Price growth for seafood imported into Hong Kong is slowing even as demand for seafood continues to grow, according to one of the biggest sushi chains operating in the city-state.
Average wholesale costs of seafood rose by an average 7.8 percent per year between 2014 and 2018 and will rise an average 2.8 percent per year between 2018 and 2023, according to documents published by leading local Japanese restaurant chain operator Daikiya Group… Read More
A colorful corruption case in China’s seafood region, involving speed boats and cash bribes, has shone a light on the scale of China’s fisheries subsidy regime and how it’s open to abuse by Communist Party officials who administer it.
Wang Ji Shan, former head of the Ocean and Fisheries Bureau in Li Jin County near Dongying on the east coast, has been charged with funneling millions of yuan in licenses and subsidies to the… Read More