Guangxi Processors Giving Up on White Shrimp Exports Due to Unfavorable Conditions
SEAFOODNEWS.COM [CAPMA] Translated by Amy Zhong march 24, 2016
White shrimp export is likely to be marginalized in Guangxi this year. Guangxi is the Chinese Province that borders Vietnam, and is north of Hainan Island.
Low prices and poor production were the norm for last year, and Guangxi’s white shrimp export has been unsatisfactory. Overall last year the purchase volumes of processing plants have hit the bottom. Some processing plants even canceled their production lines. Although the Lunar New Year's holiday is over, many plants have not restarted their operation yet and insiders are not optimistic about the global market situation this year.
According to insiders, quite a number of companies have laid off great quantities of workers to cut their operation cost last year. And although their current white shrimp inventory is limited, they have no plan to buy more shrimps owing to high prices in Guangxi.
What’s more, a few companies change to other products like pomfrets owing to the unprecedentedly low export volumes of tilapias and white shrimps last year. It is estimated that the proportion of white shrimps will continue to decrease in Guangxi’s export of aquatic products this year. And probably white shrimp export will even be marginalized...
To Read Full Story Login Below.