Maruha Nichiro to export Malaysian farm-raised shrimp To Europe

Japan's top seafood producer, Maruha Nichiro Holdings Inc will start exporting Malaysian-cultured shrimp to Europe as early as this summer.

Sales of the whiteleg shrimp have been limited to Japan and South-east Asian nations. But given its low price, Maruha Nichiro has determined that demand exists in Europe. The goal is to generate JPY1 billion (US$11.1 million) in sales in fiscal 2011.

Whiteleg shrimp cost roughly half the price of black tiger shrimp, which are widely sold in Europe. Of the 11,000 tonnes produced by a Malaysian subsidiary, 300 tonnes will go to Spain, France and Italy. The European shipments will be raised to 1,000 tonnes in fiscal 2011. A Dutch subsidiary will market the shrimp to food companies and restaurants in these countries.

Maruha Nichiro overall European sales declined more than 30% on-year to JPY14.5 billion (US$161 million) in fiscal 2009. Supplying low-priced shrimp to the Mediterranean region is expected to help bolster its European operations.