Our Plan – Become the preferred supplier in a growing market
Aquanue intends to use the SICRA™ platform to become the first major regular supplier of intensively-farmed live Grouper to the Asian market and of whole chilled and processed grouper to the Middle East market.
Groupers are the main species group within the Hong Kong-based Live Reef Food Fish trade, and several specific grouper species are amongst the highest-value fish in markets across the GCC region. The SICRA™ platform is proven with many of the key high-value grouper species.
Demand follows supply in the Live Reef Food Fish (LRFF) trade, and supplies are under threat through extreme over-fishing, the use of destructive fishing methods including cyanide and dynamite, and the risky and unpredictable nature of sea cage farming – which uses mainly wild-caught seed stock. China is actively looking for new supplies and is increasingly buying direct, and Aquanue will be positioned to respond to this growing demand.
Demand outstrips supply in the GCC region’s seafood markets. Per-capita seafood consumption is below the world average but increasing rapidly. In the Gulf region, grouper species are heavily overfished, and size limits and seasonal restrictions apply. The local climate and coastal water conditions are not favourable for grouper farming.
The GCC region’s growing seafood consumption and dependence on imports makes it highly reliant on the global seafood market. The GCC region relies on imports for at least 70% percent of its seafood products. Traders are continually seeking new supply sources, and this presents a large opportuity for Aquanue.
Aquanue will be a game-changer within an existing, large and growing seafood market. The live grouper trade in Asia, and the markets in the Gulf region, presently include wholesale buyers waiting for the boats or containers to arrive with whatever has been caught. Aquanue will be the first and only supplier able to respond to demand with controlled, regular, reliable supply. Buyers looking for certain high-value species will be able to pre-order from Aquanue, and not rely on the sporadic wild-harvest for occasional supply.
The company will develop the Australian domestic market in addition to exporting to key Asian markets: Hong Kong, Singapore and mainland China. Hatcheries and grow-out facilities are being developed in key markets.
Put simply, Aquanue will grow out disease-free fingerlings to market-size in SICRA™ Units. When they are ready, Aquanue will harvest the fish, pack them into specialized transport containers, and air-freight them to buyers at the live seafood markets in Hong Kong, Singapore and mainland China, and to buyers in GCC countries.
To find out about the Grouper market in Asia, please click here