March 11, 2014

Regal Springs to supply 60% of fresh tilapia in US

Its fresh sales to the US are going up this year, while it is building up its Mexico operations and expanding its feed mill production, vice president of the company, Magdalena Wallhoff, told the Miami Herald.

Founded in 1988 and headquartered in Miaramar, it remains a privately-owned family business but has grown over the years. Today, the company has more than 7,000 employees, including 15 in Miramar. Its aquaculture sites are in Indonesia, Mexico and Honduras. The company's sales hit about  US$250 million per year.

According to the National Fisheries Institute, tilapia is the fifth most-consumed seafood in the US, and consumption seems to be going up. In 2012, the average American ate nearly 1.5 pounds, up from 1.3 pounds in 2011.

The company's practices have enabled it to become a dominant player in the fresh market. When asked how the criticisms of the industry have impacted the company, Walhoff said they have helped set Regal Springs Tilapia apart. Regal farms in areas where tilapia already exist. Instead of shallow ponds, the company's aquaculture operation uses 60- by 20-foot floating cages in deep, moving waters.