December 17, 2010

Nutreco invests heavily to expand Australian seafood industry

Skretting owner, Nutreco, has decided to invest EUR20 million (US$26.6 million) to double the capacity of its feed plant in Tasmania, in order to expand aquaculture and fish consumption in Australia and New Zealand.

It is also installing a second extruder line, and upgrading the existing line and site infrastructure.

"We are running at capacity and our market is expanding at 10% a year," said James Rose, the Managing Director of Skretting Australia.

"Doubling capacity sends a strong signal that we believe in the future of aquaculture here and intend to grow with it. Aquaculture is the fastest growing animal production sector in both countries. The majority of feed produced by Skretting is for salmonids; Atlantic and Chinook salmon and trout. However, barramundi and yellowtail have grown substantially in importance in recent years and are important markets to support," he said.

Skretting Australia also manufactures feeds for the growing production of southern bluefin tuna.

"Aquaculture production in this region could more than double in the next seven years, especially if the breeding of tuna becomes a routine process," added Rose.

The expansion project is scheduled for completion in August 2011, in time to meet demand in the peak production season.