Tongwei, a dominant force in China’s aquafeed sector, is moving downstream to grab a share of the higher-margin market for processed seafood meals as the COVID-19 pandemic forces more Chinese to eat in.
Taking on the likes of Guolian Aquatic for a share of the fastest-growing segment of the Chinese seafood market, the Tongwei Group has been heavily promoting a range of seafood tailored for a home-dining market under the consumer-facing Tongwei Fish brand.
Among the offerings on e-commerce channel JD.com are pre-cooked packed local favorites like grey mullet and pickled vegetables in broth at CNY 39.90 (USD 5.98, EUR 5.18) per 450-gram pack. Likewise, pre-cooked Chilean salmon steaks are marketed as an infant health food at CNY 49.90 (USD 7.48, EUR 6.48) per 280 grams. The firm is also offering “freshly killed” semi-processed catfish –again as a health food for children – at CNY 49.90 (USD 7.48, EUR 6.48) per 600- to 800-gram portion.
Based Sichuan province in southwestern China, Tongwei is an agricultural conglomerate that operates its own aquaculture facilities and supplies fillets to food companies. In recent years, it has become a major player in the production and installation of solar panels, recently capitalizing on China’s need for renewable energy by mounting solar panels over aquaculture ponds.
The founder and chairman of the Tongwei Group, Liu Hanyuan, was recently named the richest man in Sichuan province.
Photo courtesy of JD.com
