U.S. countervailing duties against Chinese shrimp imports may ironically lead to higher prices in the longer term for U.S. buyers as the one of the top Chinese suppliers seeks to reduce its exposure to the U.S. market by ramping up sales at home. Demand from Chinese consumers will ultimately cause competition and higher prices for U.S. shrimp buyers, said a company source speaking to SeafoodSource.
Announced last year, the U.S. duties —
… Read MoreThe early mortality syndrome (EMS) virus that has badly hurt Asia’s shrimp producers could prove a turning point that spurs tighter control of cross-border spread of aquaculture disease by governments. That’s according to aquaculture insurance expert focused on growing coverage in Asia. “The future spread of disease may be much more controlled as a result of the EMS experience,” said Paddy Secretan, head of U.K.-based Aquaculture
… Read MoreChina’s international pelagic fishing fleet is getting larger but also more sophisticated, in part because a glut in the Chinese shipbuilding trade means vessels are easier than ever to acquire. Announcing aggressive pelagic expansion plans in African and Asian waters, officials in the port city of Weihai say in the first five months of this year the city had 260 (government records show it had 242 in February, suggesting rapid fleet
… Read MoreStricter inspection standards in key export markets as well as stronger competition from Vietnam are seriously hurting Chinese seafood exports, which fell in the first quarter of 2014, claims a key government quality and quarantine watchdog.
Shrinking export markets, “technical trade measures” and other issues facing China’s seafood exporters “cannot be ignored,” according to a recent article in the China Gateway (Zhongguo Guomen)
… Read MoreExecutives from a Shanghai-based fishing company are celebrating this month as they integrate a new acquisition in Argentina. State owned Shanghai Jinyou Deep Sea Fisheries Co. has completed the purchase of Altamare SA, a shrimp and fish catcher/processor in Puerto Madryn, a city of about 70,000 people in the province of Chubut in the Patagonia region.
Part of the state-run Shanghai Fisheries General Corp. Group (SFGCG) conglomerate, Jinyou
… Read MoreA free trade agreement with Iceland will kick in this month, making Icelandic seafood cheaper in China. The free trade agreement (FTA) will likely see more European seafood being directed through Iceland to avail of the cheaper trade with China where consumption of all categories of North Atlantic seafood is rising. Cod is one of the species set to grow in terms of local consumption in China.
There are plenty of countries seeking to follow
… Read MoreIt’s clear that China’s officials are looking for new sources of growth for local seafood processors. Authorities in the port city of Yantai, a processing hub in Shandong province, this month celebrated opening the Honduras market this month, shipping 19 metric tons (MT) worth USD 50,000 (EUR 36,690) in the first such shipment to the Latin American country. The shipment of frozen processed squid and cuttlefish was highlighted as a
… Read MoreChina’s leading tilapia processor is in bullish mood as it builds major new processing capacity and a new fish feed plant — part of a company plan to reduce costs through benefits of scale.
As part of its goal to become the world’s dominant tilapia integrated player Baiyang is lining up a wholly owned subsidiary, Bai Jia Co., and going ahead with a plant with 15,400 metric tons (MT) annually of tilapia processing capacity.
Located in the
… Read MorePrices are shooting up in local wholesale markets as fishing moratoriums kick in across China’s fishing ports. Most affected are staples like yellow croaker, flounder and pomfret — with prices for croaker rising 50 percent in some ports.
The price of yellow croaker went from CNY 12 (USD 1.92, EUR 1.41) per 500 grams to CNY 20 (USD 3.20, EUR 2.35) per 500g at the Sifang Wholesale Market in Qingdao, according to the city’s Qingdao Evening
… Read MoreNew openings of high-end hotels and restaurants continue to drive consumption of seafood in China, with western style seafood buffets targeting middle class consumers growing in popularity.
Certainly, China’s appetite for seafood looks as healthy as ever if you’re at the Ritz Carlton hotel in Beijing’s financial district on a Friday evening.
New Zealand green oysters, Boston lobster and Canadian crabs were all prominently displayed at
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