Fish maw, scallops and halibut were on the menu in Shanghai this week for Russian president Vladimir Putin and other VIPs in town for a security summit. Seafood remains the default choice of fine diners in China’s commercial capital, and demand for imported seafood continues to drive prices for some key species, according to a newly published survey of wholesale seafood trade in the first quarter of 2014.
A survey of 16 species published by… Read More
One of the world’s key seafood processing and marketing firms is getting ready to launch products for Chinese consumers. Icelandic Group is gearing up to court China's increasingly affluent consumers with new offerings in the pipeline for the restaurant and retail market. The firm, which has for some time used China as a base for value-added processing of seafood, is now eyeing the local market and will gear some of its ready meals… Read More
China’s seafood processors are nailing down markets in an ever-prosperous Southeast Asia, new figures show. Data from the processing hub of Ningbo for the first four months of this year shows strong growth in shipments to the Association of Southeast Asian Nations (ASEAN) bloc.
Shipments of 7,103 metric tons (MT) in the first four months of this year valued at USD 40.3 million (EUR 29.4 million) represents an increase in volume of 42.5… Read More
China appears to be doubling its efforts to secure sub-Saharan African fishing resources with a new cooperation zone that should see African fish shipped into a giant new processing base in the southern Chinese province of Fujian.
Ground was broken this month on the China Africa Fisheries Cooperation Project in Langqi special economic zone, in a suburb of the provincial capital, Fuzhou. Local fisheries executives and officials joined with… Read More
China’s leading tilapia processor has reported CNY 134.9 million (USD 21.5 million, EUR 15.5 million) in revenues, up 15.2 percent year-on-year. Investors will be worried that profit at the listed arm of Baiyang Aquatic however slipped 32.8 percent to CNY 56.8 million (USD 9.1 million, EUR 6.6 million). China’s leading tilapia processor in volume terms, Baiyang Aquatic in 2012 saw its revenues jump 15.5 percent to CNY 1.2 billion (USD 192… Read More
One of China’s largest and most ambitious seafood brands has announced a tepid full-year performance for 2013.
Zhangzidao Group Co. saw profits slip 8 percent year-on-year in 2013, to CNY 96.9 million (USD 15.5 million, EUR 11.2 million). Revenues were largely flat at CNY 2.6 billion (USD 415.3 million, EUR 299.7 million) (an increase of 0.48 percent year-on-year). This compares to CNY 2.9 billion (USD 463.3 million, EUR 334.3 million) earned… Read More
There are signs that some of China’s seafood companies are finding the domestic market tough going and are turning back to international markets. The high cost of finance and logistics have been cited in a new report from one of the country’s leading processing zones as reasons for a renewed emphasis on exports. A report on its members’ performance in the first quarter of 2014, provided to SeafoodSource by the Ningbo Seafood Industry… Read More
A new free trade deal between China and Iceland will impact seafood prices for Northern European suppliers as Chinese buyers suck up more supply. That’s according to an Icelandic official in China — the governments of China and Iceland will be eager to show that the free trade agreement (FTA) is a success, said Ragnar Baldursson, minister counselor and deputy chief of mission at the embassy of Iceland in Beijing.
Set to come into affect in… Read More
China’s seafood prices and consumption were in positive territory in March, but more modest economic growth appears to be tempering growth in both figures. That's according to data from China’s agricultural ministry, based on a survey of 80 wholesale markets that showed that in March average seafood (including freshwater products) prices grew 4.5 percent year-on-year to CNY 22.03 (USD 3.53, EUR 2.56) per kilogram (kg) but the figure was… Read More
Numerous processors and brand owners have been passing through Beijing and Shanghai the past few months with shared goals and concerns. Having long done their processing here they’re increasingly keen to launch processed seafood products geared for the domestic Chinese market. But many of these executives, in chatting with SeafoodSource, are also concerned about the impact of an apparent slowdown in the Chinese economy on local consuming… Read More