2023 News: Chinese Firms Acknowledge Quality Reduction in Aquatic Feed

In July, the price of fishmeal surged to 2,655 USD/ton due to a global supply shortage, during discussions at the Animal Nutrition Development Forum in Guangzhou on July 16, numerous leaders admitted to cutting costly protein components to maintain profitability.

The quality of aquatic feed in China is currently decreasing.

Authorities have issued warnings about the potential impact of substandard feed on aquaculture productivity, urging companies to raise feed prices to uphold product quality. 

Mr Zhang Lu, Tongwei Group's Chief Technical Officer and China's second-largest aquatic feed producer, disclosed that Tongwei and other companies are considering price increases, though some competitors oppose the idea. Zhang remarked, Certain aquatic feed has experienced significant declines in quality. I'm hopeful that profits from aquatic feed production will revert to a reasonable level.

Echoing this perspective, Zhang Wei, CEO of Jiangsu Mingzhi Biotechnology Company, attributed declining profits to fierce competition and constant fluctuations in raw material prices. 

Ma Xuekun, Chief Technical Officer of Yuehai Feed, believes that farmers will accept higher prices to purchase quality feed and ensure livestock productivity, aiming for a prosperous season and victory.

Price pressure has had a profound impact on China's aquaculture industry during its recovery after the Covid-19 pandemic. New Hope Liuhe, a major player in the Chinese aquatic feed industry, reported that the country produced 25.26 million tons of feed in 2022.

Cre: thuysanvietnam.com.vn

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