China-based Seafood firm, Bohai Seafood Commodity has unveiled an online trading platform to bring more price transparency to the Chinese seafood market. Bohai Aquatic Products Co. Ltd would launch the Bohai Seafood Commodity Trading Platform in the near future. The company is located in China’s east coast and it is a part of a bigger conglomerate, Hui Tai Group, which is a popular name in the aquaculture and processing region of Shandong.
Zhang Rong An, the general manager of the company said that the motive of introducing this online trading platform is to give producers, distributors, and consumers a fair as well as an open platform to facilitate the exchange of information. As per Zhang’s statement, the seafood pricing in China has been remaining arbitrary because of the fragmented nature of the production landscape. In addition to this, he cited that the predominance of middlemen in buying the produce of several small-scale seafood producers is another reason for this situation.
While making the announcement about the new trading platform in a launch party, Zhang said that the new online trading platform will ensure efficient and fair trading by allowing producers to sell directly. This way, they will be able to see the expected price and demand for their product. Unlike other trading platforms, this new platform will bring certainty to pricing in key commodities.
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