February 15, 2008

New Zealand King Salmon opens new fish farm to meet increasing salmon demand
 

A new fish farm has opened in Marlborough Sounds at New Zealand, which may very well boost the country's salmon sector as demand for salmon rises.
 

The new 1.15-hectares fish farm, owned by New Zealand King Salmon, will bring the company's production to more than US$15.7 million a year.

Demand for salmon has increased due to a shift in nutrition and health consciousness in consumers, and that has led to the opening of the farm. There is a strong salmon demand in New Zealand and export markets, with Australians consuming 30 percent more salmon than a year before.

The Clay Point farm, is King Salmon's fifth farm, and is co-developed with the local Iwi Te Atiawa Manawhenua Ki Te Tau Ihu Trust.

The salmon grow-out has an investment sum of US$9.4 million, and is expected to increase the company's production by 10 percent in the next two years.

King Salmon chief executive Paul Steere said while New Zealand's salmon consumption is up 20 percent in the past year, they are striving to keep production as natural, and as environmental friendly as possible.

The Clay Point farm is estimated to have an annual production value of US$19.7 million at current salmon price.

The New Zealand King Salmon Company Limited produces the Regal Salmon brand as well as Seasmoke and Southern Ocean.