Chinese e-commerce giant opens new prospects to Norwegian salmon
2017-04-11 17:13:42   copyfrom:    hits:

Alibaba is the world& 39;s largest e-trade firm (Logo: Alibaba Group Holding)NORWAYMonday, April 10, 2017,23:20 (GM
 

Alibaba is the world's largest e-trade firm. (Logo: Alibaba Group Holding)

 

Click on the flag for more information about NorwayNORWAY 
Monday, April 10, 2017, 23:20 (GMT + 9)

 

The world’s largest e-commerce company Alibaba Group Holding Ltd is planning to sell Norwegian salmon on the internet, offering new prospects to the Norwegian salmon sector to widen exports.

Taking full advantage of the normalised relations between Norway and China, the giant of global online trade has now reached an agreement with Norwegian firm Marine Harvest to sell Norwegian salmon on the internet,Bloomberg reported.

“It’s a bit of a revolution when the logistical chain works. And Norwegian seafood with high quality and popularity can benefit,” pointed out Hogne I. Tyssoy, portfolio manager of the Holberg Triton fund.

Export of fresh Norwegian salmon was among the things affected when China broke political contact with Norway over the issue of the Nobel Peace Prize awarded to a Chinese dissident in 2010. Although imports were not completely stopped, the deliveries were delayed.

On his visit to Alibaba Group’s vast premises in Hangzhou in eastern China, Prime Minister Erna Solberg commented, “Alibaba is an exciting platform, since it is the one that reaches the general public. In the future, there may be opportunities for everything from Omega 3 tablets to fresh fish’.”

Tyssoy, who has joined the delegation led by Solberg in their tour of Chine, along with other business executives and investors, expressed interest in seeing first hand what growth opportunities are in store for Norwegian fish farmers in China.

Referring to the cooperation plans between Marine Harvest ASA and Alibaba Group Holding Ltd. to sell salmon on the Internet, could “develop quickly.”

The industry is looking for new markets and new ways to boost margins. After advancing more than 400 per cent over the past five years, the Oslo Seafood Index has slid 16 per cent so far this year.

The Bergen-based equity fund Holberg Triton, which manages about NOK 670 million (USD 80 million) and invests only in the seafood sector, returned 30 per cent since its start two years ago. The fund’s largest holdings as of February included Leroy Seafood Group ASASanford Ltd., Austevoll Seafood ASA and Bakkafrost P/F.

 

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