Processing for the export trade is proving less attractive than aquaculture for the domestic market, judging by the earnings of leading Chinese seafood suppliers.
A salmon and sea cucumber aquaculture company, Shenzhen-listed Shandong Oriental Ocean will report 2012 revenues of CNY 676 million (USD 109 million, EUR 84 million), down 10 percent year-over-year, with profit falling 3.85 percent to CNY 99 million (USD 16 million, EUR 13 million),… Read More
China’s leading tilapia processor in terms of volume, Baiyang Aquatic in 2012 saw its revenues jump 15.5 percent to CNY 1.2 billion (USD 194 million, EUR 148 million) while profits jumped 59 percent to CNY 84 million (USD 14 million, EUR 10 million). The company attributes the increases to higher prices and recovering demand in its export markets.
According to Baiyang's just-published annual report, China’s total amount of import and export… Read More
Seafood consumption in China has been boosted by fears over poultry as bird flu continues to claim local lives.
On its Chinese language website, JRJ.com, a website owned by U.S.-based International Data Group — providing financial information to Chinese customers — said that Zhanjiang Guolian Aquatic Product, Kaichuang Marine, Oriental Ocean and Zhangzi Island are all benefiting from the bird flu fears gripping China’s cities. Stock prices… Read More
A slowdown in luxury spending as well as imports facilitated by a free trade pact with southeast Asia have squeezed China’s grouper farmers. Production has outstripped demand with daily sales down 300,000 kilograms nationwide according to data published by Shuichan Pindao, a seafood consumption research agency based in Beijing.
Grouper prices in 2012, even in the Spring Festival, sank to the lowest on record, a slump blamed on a frugality… Read More
One of China’s leading shrimp exporters faces a potentially disastrous delisting if it fails to turn a profit this year. Guangdong-based Zhanjiang Guolian Aquatic Products Co Ltd, forecast a net loss of CNY 220 million (USD 36 million, EUR 28 million) for 2012.
According to Shenzhen Stock Exchange rules — in place since last May — listed companies will be delisted if they make a loss for three consecutive years. Guolian lost money in both… Read More
A new, sprawling show room in Beijing’s embassy district showcasing imported American sea cucumbers is the latest proof of firms here switching to premium, wild sea cucumbers as prices slip for the domestically cultivated crop. Spread over three floors, the Mellish Island outlet is owned by Harbin Century Yu Chen International Trading Corp. The firm has offices in Los Angeles, established in 2010, to oversee its sea cucumber sourcing.
Mellish… Read More
Domestic demand for tuna and squid is driving profits and expansion at one of China’s largest offshore catch fisheries firms, which recently added new tuna-fishing vessels to its fleet. Shanghai Kaichuang Marine International Co. is predicting its profits will soar 90 percent year over year in 2012 — to CNY 125 million (USD 20 million, EUR 16 million) according to earnings guidance to investors, as reported by analysts at Chinese securities… Read More
Provisional Indian figures for 2012 show India’s shipments to China held steady last year, despite a difficult first half which saw Indian imports battle newly stringent China sanitary rules. India sold 77,865 tons valued at USD 172 million (EUR 134 million) to China in 2012, said Shri N Ramesh, director of marketing at India’s Marine Products Export Development Authority (MPEDA). USDA and data from China shows India shipped USD 149 million… Read More
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