New species from Argentine subsidiary introduced by Shanghai Fishery Group
One of China’s largest seafood firms, Shanghai Fishery Group Co (SFGC), introduced supplies of what it’s terming a “spotted pomfret” fish from its Argentine subsidiary to boost its sales in the lead-up to the all-important Chinese New Year holiday, which took place 28 January.
SFGC said it added 40,000 tons of extra seafood to satisfy the buying rush in Shanghai, China’s wealthiest and most cosmopolitan city. The state-run firm is banking on an overhauled distribution system and no longer relying on the Dongfang wholesale market, which it runs.
The firm says it’s leveraging a strategic supply deal with the ‘Lu Di’ (G-Super) chain of high-end supermarkets operated by Greenland Properties – as reported recently by SeafoodSource – to boost sales of fish and “red shrimp” from Altamare SA, a shrimp and fish catcher and processor in Puerto Madryn, Argentina, which SFGC bought in 2014 through its subsidiary Shanghai Jinyou Deep Sea Fisheries Co.
While the firm is clearly seeking to up its game on the distribution side, SFGC clearly also follows government strategy. At the time it bought Altamare, the firm said the purchase was part of the company’s strategy to “go global” and buy fishing companies and resources around the world. That appears to be borne out in the company’s latest statement, which commits itself to serving the “social responsibility” of supplying Shanghai with plentiful seafood and, in doing so, helping to keep food price inflation in check.
SFGC is also distributing its ‘LongMen’ and ‘Shui Jin Yang’ brands through local supermarkets.