December 9, 2004

Thai Seafood Exporters Look to Expand Market in China

The Kasikorn Research Center in Thailand has urged seafood exporters to accelerate expanding the market in China since the demand for the product in the country is very high.

According to the leading think tank, China is one of the world's key producer and importer of seafood for processing and consumption.

Consumption of the product is so high in China that it needs to rely on imports to meet the local demand.

Thailand's present export value of seafood to China is not high, as the country ranks as the 10th important trading partner of China for the product.

Therefore, there is much potential for Thai exporters to penetrate the Chinese market given the high demand for seafood products.

China produces the largest amount of fishery products in the world. Of the total production, 40% come from breeding.

China's breeding-based fishery products represent around half of the total output in the world.

The Agricultural Ministry of China categorizes the fishery product business as a promising one over the next five years.

However, it is projected that the fishery output would not increase significantly in that period since Beijing sees a need to restore environment in coastal areas.