21世纪经济报道·2025-05-13 06:58Core Viewpoint - The price of crayfish in China has significantly dropped, with reports indicating a decline of nearly 50% in recent weeks, raising concerns about the industry's profitability and market dynamics [1][2][3]. Price Trends - In the first four months of the year, the wholesale price of crayfish peaked at over 70 yuan per kilogram, but by May, it had fallen to 38 yuan per kilogram, with expectations of further declines [2]. - In Hubei Province's Qianjiang City, crayfish sales have surged, with daily sales increasing from approximately 2,000-3,000 jin to 30,000-50,000 jin [4]. - The price of mid-sized crayfish has dropped from around 42-43 yuan per jin at launch to approximately 13 yuan per jin [4]. Market Dynamics - The crayfish trading center in Qianjiang is experiencing peak season activity, with daily trading volumes stabilizing at around 2,000 tons, distributed to over 600 cities nationwide [10]. - In Hunan Province's Yiyang City, daily crayfish supply is about 2,500 tons, primarily sold to over 50 cities including Beijing and Guangzhou [12]. Industry Challenges - The crayfish processing sector is diversifying, with products gaining popularity in overseas markets such as the EU and Southeast Asia. Since 2012, China's crayfish production has entered a rapid growth phase, with expected production reaching over 3 million tons by 2024 [14]. - Two A-share listed companies have reported that their crayfish businesses are negatively impacting overall performance. Guolian Aquatic Products reported a revenue of 3.409 billion yuan in 2024, a year-on-year decline of 26.16%, with a net loss of approximately 742 million yuan [20]. - Guolian Aquatic Products announced the termination of a project aimed at expanding crayfish processing capacity due to changing market conditions and declining demand [21]. - Another company, Anjins Food, reported a revenue of 15.13 billion yuan in 2024, a slight increase of 7.7%, but noted significant pressure from the crayfish market, with inventory of frozen products down by 31.7% [21][22].