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Alibaba eyes $200 billion seafood sales growth

Alibaba and Mowi signed a contract last year for the distribution of salmon.

Chinese multinational conglomerate company Alibaba aims to to buy food products, including fresh seafood, worth $200 billion (€177.8 billion) in the next five years.

As China's population expands rapidly, Alibaba Europe General Manager Terry von Bibra told IntraFish the e-commerce giant is interested in dealing with suppliers of salmon, brown crab, king crab, toothfish, oysters and cod.

Von Bibra said the company has a refrigeration chain in China, a good logistics machine for the seafood industry.

Last October, the Alibaba Group went into business with Mowi to sell salmon. However, the parties did not disclose information on volumes sold or sales projections.

In the first hour of Singles Day -- the Chinese retail equivalent of Black Friday which occurs in November -- Alibaba's retail channels sold 1.1 billion hairy crabs and a similar amount of sea cucumbers, the group's Europe GM said.

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