A Chinese fishing giant with a fleet of around 240 vessels has bought a shrimp fishing company from Spain’s Grupo Amasua, to target growing demand in China.

China National Fishing Corporation (CNFC) -- which currently sells around 70 percent of its catch into Europe through a base in Las Palmas, Spain – acquired Crustaceos de Mozambique from Amasua last week for an undisclosed amount, said Meng Tao, its deputy sales manager.

<p> </p>
The Mozambique-based fishing company harvests around 1,000 metric tons of wild shrimp a year with a fleet of 10 trawlers, he told IntraFish.

CNFC