September 17, 2008

                     

Malaysia ventures into Patin fish exportation to boost aquaculture industry

 

 

Koperasi Permodalan Kuala Krai Bhd (KPKKB) has signed a memorandum of agreement (MoA) with Aero Supplies and Consulting Pt. of Saudi Arabia for the export of freshwater Patin fish.

 

Abu Raihan, chairman of KPKKB said that they will invest between RM15 (US$4.34)-RM20 (US$5.79) million to build a factory to process the Patin in pallets not later than end of this year, and it will open job opportunities for 400-500 workers at the site.

 

He added that this project was started with the cooperation of the Kelantan Department of Fisheries and 140 ponds have been identified for use to date.

 

The MoA includes the purchase of 20-40 containers of Patin per month from KPKKB and will generate an income of between RM80 (US$23.17)-100 (US$28.97) million per year.

 

Locally, the price for the Patin is RM8 (US$2.31) per kg and RM4 (US$1.16)-RM5 (US$1.45) per kg for the wholesale market.

 

The national demand for fish-based food is expected to increase from the current 1.2 million tonnes to 1.5 million in 2010 which means Malaysia's current per capita consumption of fish would rise from 49 kg to 56 kg.

 

Malaysia exported a total of 283,385 tonnes of fisheries commodity valued at RM2.253 billion (US$0.66 billion) in 2004 to countries like the US, Thailand, Singapore, China, and Indonesia.

 

Under the Ninth Malaysia Plan, the Aquaculture Industrial Zone (AIZ) initiative in the ECER is projected to develop and improve the nation’s aquaculture industry and to increase the net income of aquaculture participants to at least RM3, 000 (US$875) per month.

 

Malaysia's aquaculture industry was valued at RM1.4 billion (US$0.41 billion) in 2007, with the production of 213,780 tonnes of fish.

 

Aquaculture production is envisaged to increase up to 600,000 tonnes by 2010. Of this, 400,000 tonnes would be produced through marine culture while 200,000 tonnes will come from the freshwater fish industry.

Video >

Follow Us

FacebookTwitterLinkedIn