China’s seafood processing industry churned out USD 6.7 billion (EUR 4.9 billion) worth of products in 2008, up from USD 6.4 billion (EUR 4.7 billion) in 2007, according to a report released this week by China’s Ministry of Agriculture.
China’s seafood processing sector has grown an average of 3.84 percent annually since 2004, with 30 percent growth over the past five years.
In 2004, the industry was worth only USD 5.7 billion (EUR 4.2 billion), and the 2008 total gross output value was expected to reach USD 588 billion (EUR 430 billion).
In the past five years, China’s most successful processing plants have reported skyrocketing revenue.
Shandong province-based companies such as Homey Group Co. Ltd., Changhua Aquatic Foodstuffs Co. Ltd. and Xixiakou Group Co. Ltd. generated sales of more than USD 450 million (EUR 323 million). Additionally, Zhejiang-based Haishen Foods, China’s leading canned seafood producer, reported sales of nearly USD 150 million (EUR 110 million).
Logistical and food-safety problems remain challenges for China’s processed seafood industry.
Back to home >>
