One of China’s leading shrimp exporters, Zhanjiang Guolian Aquatic Products, has advised investors that it will report a net loss of CNY 219 million (USD 35 million, EUR 27 million) for 2012. The firm, a Walmart supplier, blamed higher raw material costs as well as weaker export prices and higher inventory levels. Guolian however is predicting a return to profitability in 2013, citing the maturity of cultivation and processing projects that it… Read More
China’s aquafeed companies have upped the prices of feed, with shrimp feed up by as much as CNY 400 per ton and feed for freshwater fish is up by between CNY 50 and CNY 100 per ton, several sources, including feed vendors, told SeafoodSource.
Higher prices for raw materials — including fishmeal and maize — has been blamed for the rise, with chairman of the Guangdong Haid Group Group Xue Huari singling out a jump in fishmeal costs in… Read More
The purchasing power of China’s expanding restaurant and supermarket chains are clearly the focus of a Canadian seafood marketing campaign in the country’s business capital this weekend.
Organized by Canada’s trade board and embassy officials, events on 15 March will include a supermarket promotion with Shanghai outlets of membership-based Sam's Club and a menu promotion with Junlai Seafood, a high-end establishment popular with… Read More
China’s demand for salmon is spurring domestic aquaculture firms to breed the fish locally — with mixed results. Oriental Ocean Scitech Co. last year introduced its salmon to the market at the terminal price of CNY 200 (USD 32, EUR 25) per kilogram, “but did not sell very well. Despite the high price…it is very troublesome to breed salmon,” the company said.
Listed on the Shenzhen stock exchange, Shandong Oriental Ocean imported 200,000… Read More
Anti-Japanese sentiment and a government-inspired frugality campaign haven’t dented the appeal of Japanese style sashimi and sushi restaurants in Beijing. Visits to a dozen Japanese-style restaurants in Beijing suggest strong growth for sashimi style restaurants, many of which are marketing themselves on the basis of serving imported Japanese seafood and having Japanese chefs.
The extent of Chinese animosity towards neighboring states was… Read More
As China’s leaders meet this week for the annual National People’s Congress, the ongoing reform and recovery of China’s capital markets will be watched closely by investors in the fast growing economy. A recovery in China’s stock markets appears to have come at the right time for the country’s ambitious aquaculture and seafood processing firms, aiming to raise funds for expansion.
Listed in Shanghai, Dahu Aquaculture Co. recently… Read More
Malaysia is taking a novel approach to driving consumption of the country’s seafood products in China. The country’s trade promotion board is funding a promotional campaign in China to drive Chinese consumers into Malaysian-style restaurants and to increase consumption of food and seafood imported to China, which slipped last year. China's seafood imports from Malaysia in 2012 amounted to USD 25.2 million (EUR 19.4 million), a decline of… Read More
The several million readers of Beijing’s most popular morning paper, Xin Jing Bao, will have become very familiar the past months with two firms aggressively advertising organic seafood.
Zhongnong SeeSang Agricultural Development (Beijing) Co and Beijing Organic and Beyond Corporation (BOBC) both took half page ads in the tabloid-sized Xin Jing Bao on a daily basis over the past month to promote gift boxes of organic-themed seafood.
Stressing… Read More
The eyes of the world aquaculture insurance industry will be on China next month with the government expected to announce the framework for co-funding of insurance cover for the country’s millions of aquaculture cultivators. The announcement is expected after the annual National People’s Congress, the annual week-long legislature, which sits next week.
Among the insurers watching closely is Jason Scott, aquaculture specialist at London-based… Read More
Oysters are seen as the new “sexy” food of China according to a Chicago chef running a successful oyster bar in Shanghai.
David Brode and his restaurant, the Plump Oyster, featured in a two-page spread in the local edition of GQ magazine, having served and explained to the GQ crew a plate of his finest oysters from around the world.
Since opening his restaurant in August last year Brode has also been pursued by a new wave of suppliers,… Read More