Marubeni to begin aqua-feed production and sales in China
TOKYO, NNA - Major Japanese trader Marubeni Corp. is set to launch an aqua-feed business in China as early as next month to cash in on the nation's huge aquaculture market.
Marubeni announced Monday it has established Marubeni Nisshin Feed Technology (Tianjin) Co. through its Tokyo-based subsidiary Marubeni Nisshin Feed Co. to produce and sell aqua-feed in China.
Marubeni said the Tianjin unit, capitalized at 850 million yen ($8.2 million), is the first fully-owned Japanese aqua-feed manufacturer in China.
The Japanese trader noted that China's marine aquaculture production is about 6.5 times that of Japan and the Chinese market will further expand partly due to growing health consciousness among Chinese consumers. (NNA/Kyodo)