Chinese feed major Guangdong Haid sees revenue bump shift to premium species
China’s leading producer of feed for the aquaculture sector has posted strong growth for the first three quarters of 2017, driven in particular by demand for premium products from producers of more expensive fish species like pomfret and croaker.
Guangdong Haid saw revenues grow 32.6 percent year-on-year to CNY 26.5 billion (USD 4 billion, EUR 3.38 billion), while net profits, at CNY1.14 billion (USD 172.4 million, EUR 145.4 million), were up 30.6 percent on the same period last year. The positive results were driven in particular by yellow croaker, bass (also known as Chinese perch) and silver pomfret – three species in demand among mid-priced diners as Chinese consumers increasingly move upmarket.
Haid, which has also sought to drive revenue growth through investment in pig breeding, has been backed by Chinese stock pickers for its exposure to rising seafood and meat consumption.