October 3, 2024

 

The performance of China's top aquafeed producers in H1 2024

 

An eFeedLink Exclusive
 
 

 

Fierce competition in China's aquafeed sector led to the number of Chinese aquafeed manufacturers falling from more than 1,600 in the first half of 2023 to 1,480 in H1 2024.

 

The total number of aquafeed factories under the ownership of 80 producers with an annual feed output of more than 200,000 tonnes decreased from more than 530 to 450.

 

However, the combined production volume of the top 10 producers, which account for 55% of the Chinese market, was 4,929,000 tonnes, an increase of 2% from H1 2023.

 


 

The Chinese aquaculture industry performed poorly in H1 2024, with most of the top aquafeed producers cutting production (mostly at around 15%). Only the top three players have increased production modestly.

 

Haid Group continued to increase output, albeit at a rate of 0.48% in H1 2024. Its production of freshwater aquafeed rose 1.87% year-on-year, of which fish feed expanded by 3.80%, but the production of other freshwater feed shrank by 5.5%. Haid's production of marine feed dropped by 8.74%.

 

Tongwei registered an increase of 3.5% in aquafeed production in H1 2024. In the first half of 2024, Tongwei's production of freshwater fish feed decreased by 2.39%, but its production of other freshwater feed surged by 21.88%. Tongwei also expanded its production of marine feed.

 

Evergreen registered the biggest drop in aquafeed production among the top producers. Since 2023, its proportion of freshwater feed output has declined; by H1 2024, freshwater feed only accounted for one-third of Evergreen's total production. The company's decline in seawater feed output was more than 30%.

 

The production cuts of Yuehai, New Hope, Dabeinong, and Tianma in H1 2024 were in the range of 14-18%.

 

The performance of the Chinese aquaculture sector was weak in H1 2024, prompting a drop in aquafeed production. The average drop in production among the top 10 producers was less than 5%. 

 

In the second half of 2024, the volume of Chinese aquafeed output is set to expand, with the rise of China's aquaculture production.


- Shi Tao, eFeedLink