Zhanjiang Gangyang Aquatic Co Ltd
Lee Ho joined Zhanjiang Gangyang Aquatic Co Ltd in June 2019 as part of the second generational team changing the seafood business model for this 20 year-old company. As the Procurement Manager, Lee has been active in monitoring the shrimp market situation at the national and international supply chain levels, in particular, the changing consumer demand, especially in last 2 years. Based in Guangdong, Zhanjiang Gangyang Aquatic Co is involved in the import of shrimp, mainly raw peel and deveined products from Ecuador, India and Mexico for distribution to regional markets all over China. Prior to joining Zhanjiang Gangyang Aquatic, Lee was with ZhongXinHaiTong (Tianjin) Import and Export Trading Co Ltd. Lee graduated from University of Electronic Science and Technology of China.
|Session 1||State-of-the-Industry: Understanding Markets and Consumers|
|Presentation||Some Perspectives on China’s Changing Shrimp Demand|
In 2019, China was the global leader, importing almost 718,000 tonnes of marine shrimp to match the increasing demand of its consumers. However, the import market became erratic in 2020, with lower demand from the closure of restaurants amidst the COVID-19 pandemic. The e-commerce market picked up substantially but could not offset the loss in overall demand. The competitive market with low prices benefited local consumers. At the same time, post-pandemic concerns such as DNA testing for the virus in packaging affected both importers and exporters and shrimp supply into the country.
Based on our knowledge and experience, we present some perspectives on the changes with the Chinese shrimp market which we estimate will continue to have a significant influence on the global farmed shrimp trade. Demand is changing in China. What are Chinese consumers looking for in terms of product forms, food safety and sustainability and how can Asian shrimp better position itself in the Chinese market? Prior to the pandemic, South China was a preferred market for live black tiger but this has also changed. There is also an increasing supply of locally farmed shrimp. What are the outlook and trends for its shrimp market in 2021-2022?