openPR Logo
Press release

direct/ Glitnir (IS) - China is the world´s largest producer and exporter of seafood

11-06-2007 06:52 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Glitnir

according to the latest Glitnir report

Shanghai/Reykjavik/Oslo - 5 November 2007 - China is now the largest producer of seafood in the world, supplying some 35 percent of total global seafood products*. In addition, China leads the world in terms of the export of seafood produce, with Japan accounting for about half of its total seafood exports in recent years. Glitnir´s latest report highlights that demand for high quality seafood in the Chinese market is set to continue to grow, due to increasingly affluent consumers, greater production capacity and the traditional popularity of seafood, particularly shellfish, in Asia.

Glitnir, the leading global supplier of financial services to the seafood industry, released its new report on China´s seafood industry today, at the Ocean of Opportunities Conference in Shanghai, China. The report provides an analytical overview of the main trends and developments in the Chinese seafood sector.

The new Glitnir Seafood Industry Report is the second annual report to be published by Glitnir on the Chinese market. This report is the sixth in a series of seven issues planned for 2007. Issues from the series´ previous four years of publication have focused on the seafood industries in Europe, North and Latin America. All previous reports are available at www.glitnir.is/seafood.

Main findings from the report:

Production
China´s total seafood production was 51 million tons, which represented a stable year-on-year growth of 4.08 percent.*

Aquaculture, capture, production and processing are concentrated in a few regional centers, notably around the coastal cities of Dalian and Qingdao in the north and the provinces of Zhejiang, Fujian and Guangdong in the south. Shandong province, of which Qingdao is the capital, was the leader among China´s provinces in the production of seafood, with a total of 7.4 million tons.*

Out of the top ten aquaculture products harvested in Chinese seawater, six are varieties of shellfish. Of the freshwater aquaculture products, it is carp that is most likely to find its way onto the Chinese dining table, accounting for 72 percent of total production. However species such as shrimp and tilapia are gaining in importance and in recent years China produced some 41 per cent of the world´s shrimp, making it the world´s largest producer.*

However the growth and success of Chinese seafood production in 2007 has been overshadowed by a series of import bans from trading partners relating to antibiotic contamination, carcinogens, and in earlier years traces of chloramphenicol. In response to sharp criticism from abroad, the Chinese government has implemented a series of measures to address product quality control and monitoring, including over 700 national standards, almost 2,000 industrial standards and 1,780 quality inspection agencies at provincial, municipality and county level.

Consumption
Seafood consumption in Asia is the highest in the world. Consumption in China has grown in line with the expansion of the country´s affluent middle class, rising from 11.5kg per capita in 1990 to an average of 25.6kg per capita in 2006. A further rise of 40 percent to 35.9kg is expected by 2020. With the exception of shrimp, consumption of which has grown tenfold in the last decade, China is forecast to be able to satisfy such an increase in demand independently.

The Chinese domestic market is dominated by freshwater fish and molluscs and the only imports for domestic consumption are higher value seafood like abalone and shrimp. Changes in the habits of domestic shoppers are becoming evident. A move away from the traditional wet markets and smaller shops towards supermarkets and megastores is now being seen. This is fuelled in part by the recent food safety scares but also by the sudden appearance of large foreign chains such as Carrefour and WalMart, which have both had to accommodate a diverse and mostly live seafood selection onto their shop floors.

Processing
In recent years seafood processing has seen significant growth in China and processing for re-export has become a multi-billion dollar trade. Much of the raw material for this activity is frozen seawater catch and is supplied by Russia and the US. Processing for re-export is supported by a 100-percent tariff rebate, paid at the time of export.

Trade
China is well underway with the implementation of its commitments agreed under the accession to the WTO, which started in 2001. Besides enhancing overall trade in terms of improvement in regulations, transportation and logistics, day-to-day administration etc, there are two notable benefits of the WTO agreement to seafood trade: reduction of tariffs and enhanced Soy Bean import to China, which can be used for feed

*China, 2005 statistics

Further information:
For comments regarding the Glitnir Seafood Industry Reports or Glitnir´s seafood sector activities and services, please contact:

Jiang Zhu, Director, Glitnir Representative Office China
mobile phone +86 139 0161 1875; e-mail: jiang.zhu@glitnirbank.com

Bjørn Richard Johansen, Managing Director, Corporate Communications, Glitnir,
mobile phone +47 47 800 100; e-mail: brj@glitnir.no

For photos: please contact akj@glitnir.no

About Glitnir Bank
The financial group Glitnir offers retail, corporate and investment banking services. Glitnir is a leading niche player in three global industry segments: seafood/food, sustainable energy, and offshore service vessels. Glitnir operates in Iceland, Norway, Sweden, Denmark, Finland, the U.K., Luxembourg, Russia, Canada and China, and established a U.S. subsidiary, Glitnir Capital Corporation, in New York in 2007 to strengthen its presence in the Americas. Glitnir is listed on the Icelandic Stock Exchange (GLB).

For more information: www.glitnirbank.com

http://www.glitnir.com

http://hugin.info/133924/R/1164653/228097.pdf

The announcement distributed by Hugin directnews.
The issuer is solely responsible for the content of this announcement.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release direct/ Glitnir (IS) - China is the world´s largest producer and exporter of seafood here

News-ID: 31824 • Views:

More Releases from Glitnir

direct/ Glitnir (IS) - Moody´s reviews Glitnir´s rating for possible downgrade
Moody´s Investors Service announced today that they have placed on review for possible downgrade the Aa3 long-term rating and C bank financial strength rating ("BFSR") of Glitnir banki hf. Glitnir´s P-1 short term rating was affirmed. According to the release the three largest Icelandic commercial banks, have now been placed on review for possible downgrade. Moody´s announcement is attached: For further information contact: Ingvar H. Ragnarsson, Managing Director, Treasury, phone
direct/ Glitnir (IS) - Glitnir Bank Full-Year Results for 2007
ISK 27.7 billion (EUR 315 m) profit after tax 19.3% Return on equity Financial Highlights - Net income increased by 17.2% year-on-year - Pre-tax profit in Q4 was ISK 3.8 billion to ISK 10.4 billion in Q3 - Net interest income in Q4 was ISK 11.9 billion, up by 54.6% from Q4 06 - Fees and commissions increased by 7.8% in Q4 and amounted to ISK 10.6 billion - 52%
direct/ Glitnir - Glitnir publishes today the fourth quarter results and Annual …
Glitnir publishes today the fourth quarter results and Annual Accounts excluding notes. As a result of technical difficulties that emerged at the very last moment in the process leading up to the publication, pertaining to its notes. The full Annual Account including the notes will be published on Thursday, 31 January. http://www.glitnirbank.com The announcement was distributed by Hugin. The issuer is solely responsible for the content of this announcement.
direct/ Glitnir (IS) - Glitnir and LNJ Bhilwara Group in India sign Memorandum o …
Glitnir to partner with leading Energy Company of India to establish Geothermal Energy in India and Nepal New Delhi, 27 November 2007 - Glitnir, the Nordic corporate investment bank, and LNJ Bhilwara Group with operations in India and Nepal has signed a Memorandum of Understanding (MoU) to collaborate in developing geothermal power plants in India and Nepal. This MoU has been signed during the visit of the Finance Minister of Iceland

All 5 Releases


More Releases for China

Forehead Thermometer Market Analysis (2019- 2025)| Microlife (China), Radiant (C …
This research study is one of the most detailed and accurate ones that solely focus on the global Forehead Thermometer market. It sheds light on critical factors that impact the growth of the global Forehead Thermometer market on several fronts. Market participants can use the report to gain a sound understanding of the competitive landscape and strategies adopted by leading players of the global Forehead Thermometer market. The authors of
Analysis of the Global And China Handheld Transceiver Market-Top players BAOFENG …
The Global And China Handheld Transceiver Market is a professional report which provides thorough knowledge along with complete information perta¬ining to the Handheld Transceiver industry propos classifications, definitions, applications, industry chain summary, industry policies in addition to plans, product specifications, manufacturing processes, cost structures, etc. Key Regions First-tier Cities • Beijing • Shanghai • Guangzhou • Shenzhen Free Sample PDF Copy of Handheld Transceiver Market research report @ https://www.qyresearchgroups.com/request-sample/453291 Report Includes:- This report focus Chinese market, it covers details as following: Key
Analysis of the Global And China Calculator Market-Top players Aurora(Taiwan, Ch …
The Global And China Calculator Market is a professional report which provides thorough knowledge along with complete information perta¬ining to the Calculator industry propos classifications, definitions, applications, industry chain summary, industry policies in addition to plans, product specifications, manufacturing processes, cost structures, etc. Key Regions First-tier Cities • Beijing • Shanghai • Guangzhou • Shenzhen Free Sample PDF Copy of Calculator Market research report @ https://www.qyresearchgroups.com/request-sample/453273 Report Includes:- This report focus Chinese market, it covers details players regions product type and
Analysis of the Global And China Activity Tracker Market-Top MI(China), Huawei(C …
The Global And China Activity Tracker Market is a professional report which provides thorough knowledge along with complete information perta¬ining to the Activity Tracker industry propos classifications, definitions, applications, industry chain summary, industry policies in addition to plans, product specifications, manufacturing processes, cost structures, etc. Key Regions First-tier Cities • Beijing • Shanghai • Guangzhou • Shenzhen Free Sample PDF Copy of Activity Tracker Market research report @ https://www.qyresearchgroups.com/request-sample/453264 Report Includes:- This report focus Chinese market, it covers details players regions
Analysis of the Global And China Money Counter Market-Top players Deli(China) ,W …
The Global And China Money Counter Market is a professional report which provides thorough knowledge along with complete information perta¬ining to the Money Counter industry propos classifications, definitions, applications, industry chain summary, industry policies in addition to plans, product specifications, manufacturing processes, cost structures, etc. Key Regions First-tier Cities • Beijing • Shanghai • Guangzhou • Shenzhen Free Sample PDF Copy of Money Counter Market research report @ https://www.qyresearchgroups.com/request-sample/453304 Report Includes:- This report focus Chinese market, it covers details as following: Key
Global Color Steel Tile Market 2017 - South China, East China, Southwest China, …
Color Steel Tile Market Research Report A market study based on the " Color Steel Tile Market " across the globe, recently added to the repository of Market Research, is titled ‘Global Color Steel Tile Market 2017’. The research report analyses the historical as well as present performance of the worldwide Color Steel Tile industry, and makes predictions on the future status of Color Steel Tile market on the basis