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Steady Growth For Seafood Industry

Economics +1 more

CHINA - The next five years could be an explosive period for China's seafood industry and could offer big investment opportunities.

Zhu Changliang, vice-chairman of the seafood branch at the All-China Federation of Industry and Commerce, said at a conference promoting the China Top 10 Frozen Seafood Awards and Forum, which will be held in May in Wuhan, Hubei province that seafood accounts for 40 per cent of the country's restaurant trade.

He added that by 2015 it is expected to grow to 60 per cent.

China is the world's biggest seafood producer, providing 70 per cent of the global total worth $100 billion with about $20 billion in exports.

According to the China Daily, with fluctuating exchange rates the value of the export market could reach nearly $46 billion.

"As demand in Western countries has decreased and the yuan has appreciated, China's seafood industry must gear its marketing strategy more toward the domestic market," said Wang Dawei, senior investment manager of the agriculture business department of Legend Holdings Ltd.

There are more than 10,000 companies in the seafood production industry now in China, but most of them are small players and the next step for the industry will be the consolidation of these companies.