# Anjoy Foods (603345.SH): Q3 gross margin pressure linked to rising surimi and other raw material prices

> Anjoy Foods reported that its third-quarter gross margin was under pressure due to higher surimi and other raw material prices. The company said El Niño has reduced global marine surimi catches, feed fish demand from crab and turtle farming has grown, and some fishmeal producers are diverting raw fish from surimi processing. Anjoy said it is offsetting costs through its acquired freshwater surimi suppliers and by narrowing promotions.

- Date: 2026-11-12 · published 2026-11-12T09:06:36.289Z
- Category: weather · region China · magnitude low
- Page: https://feedsoft.ai/events/95229-anjoy-foods-603345-sh-q3-gross-margin-pressure-linked-to-rising-surimi-and
- Commodities: [Fishmeal](https://feedsoft.ai/c/FISHMEAL.md)

## Why it matters

Diversion of raw fish into fishmeal and aquaculture feed competes with surimi processing, which can keep fishmeal supply tight and prices firm. El Niño-driven catch declines reinforce that tightness.

## Read by commodity

- FISHMEAL: bullish ▲

## Sources

- finance.sina.com.cn: https://finance.sina.com.cn/stock/bxjj/2026-11-12/doc-iniynife8559361.shtml
- news.futunn.com: https://news.futunn.com/post/1004282814/anjoy-foods-603345-sh-pressure-on-third-quarter-gross-profit

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.