A Chinese firm is flouting the American origin of its sea cucumbers to earn premium prices, revealing the importance of branding in the Chinese seafood market.
Packaged in boxes adorned with the American flag, the sea cucumbers are selling for a hefty CNY 268 (USD 40.36, EUR 34.38) per 50 grams of dried pieces, according to the firm, Qingdao Hai Kang Seafood Development Co. That’s well above prices for some domestic supply – prices start at CNY 25 (USD 3.76, EUR 3.21) per 50 grams but rise as high as CNY500 (USD 75.31, EUR 54.15), depending on factors like age and consistency.
Sea cucumbers are becoming a luxury trading item in China, with sales picking up again after several lean years following the start of China’s anti-corruption campaign, which began in 2012. Qingdao Hai Kang claims its sea cucumbers are sourced from the U.S. South.
