Haikui Seafood details problems in China for reprocessors as it posts 40% decline in revenue
SEAFOOD.COM NEWS April 17, 2014
Haikui Seafood is a publicly traded chinese fish processor with sales primarily into the EU. The company posted sales of Euro 117 million, and a gross profit of 21.2 million euro, a decline of 57.8% from 2012.
In the Management discussion, Haikui says "the 2013 the Chinese seafood processing industry suffered severely from the challenging market environment. In particular the keener market competition, the tighter supply of raw materials as well as the longer inspection time taken by Chinese Inspection and Quarantine Authorities (ASCIQ) on export-bound products led to lower selling prices and reduced sales volumes.
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