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China looking to control overseas fishmeal producers

Investment banks who advise some of China’s largest agricultural conglomerates have been telling Seafoodsource of intense interest in overseas producers of fishmeal. Big names like New Hope, Tongwei and the two giants of Guangdong province, Haid Co. and Wen’s Co., are very interested in acquiring fishmeal assets overseas to feed growing demand in China. Struggling with over-capacity in their core business of animal feed, the firms are seeking out profitable new niche businesses.

In this they also have the tacit approval and support of Chinese policy makers. Global fishmeal supplies today are lower than a decade ago, and the El Niño weather phenomenon in Peru makes forecasting supplies difficult. As the world’s top importer of fishmeal, China doesn’t like this uncertainty – something pointed out in official government documents on the fisheries industry…

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