Industry news

China's largest seafood market back in business

Datetime：2020-03-25

The entrance to Huangsha market in Guangzhou, China.

China's largest seafood wholesale market in Guangzhou, Guangdong province, is getting back to business with 70-80% of vendors resuming trade.

China's largest wholesale market, which trades some 210,000 metric tons of seafood annually, worth CNY 7.2 billion ($1.05bn), according to management -- on Saturday (March 21), more than six weeks after trade ground to a halt following the coronavirus outbreak.

An employee of the market's operator said 70-80% of wholesalers and retailers had returned to business and of those, 100% of local vendors are back. 

"Vendors returning from other provinces are subject to isolation, but will resume very soon," said Hu, citing the manager. He added the car lot was full.

Norwegian salmon was selling at CNY 130/kg ($18.33/kg); live rock lobster from Australia, CNY 520/kg; and live American lobster imported via Vietnam, CNY 220/kg, said Hu.

"I bought some seafood from the market and had it cooked in an adjoining restaurant, spending CNY 350." His meal consisted of swimming crab at CNY 260/kg, tiger grouper CNY 100/kg, and four scallops at CNY 15 per piece, he said.

"In the past, this lunch would cost more than CNY 400, so prices are low at present," said Hu. 

He added a vendor said business had not yet returned to normal, with sales lower than at the same point last year. 

More than nine-in-10 Chinese seafood firms have resumed operations, while the China Aquatic Products and Processing Marketing Alliance (CAPPMA) reported last week 90% of China's largest seafood companies had also resumed business. 

News Source: UCN