October 12, 2020

Japfa, Hendrix Genetics form shrimp broodstock joint venture

Singapore-listed agri-food company Japfa has entered into a US$1.4-million joint venture with Europe's Hendrix Genetics Aquaculture (HGA) to set up a shrimp broodstock multiplication centre in Indonesia, the former said in a filing to Singapore Exchange (SGX) last Friday, DealStreetAsia reported.

The deal is via PT Suri Tani Pemuka, or PT STP, a subsidiary of PT Japfa Comfeed Indonesia, which will hold 49% in the new venture. HGA will hold the remaining stake.

PT STP is involved in the fish and shrimp supply chains, from feed to processed final products, while HGA supplies genetically-improved shrimp broodstock to Indonesia's shrimp industry. PT STP will fund the deal via internal resources and/or bank loans.

In spite of the COVID-19 pandemic, in the first half of 2020, up to 596,000 tonnes or US$2.4 billion of fish were exported from Indonesia, compared to the same period in 2019 when 528,000 tonnes of fish worth US$2.25 billion were exported.

Indonesia's key export markets are the United States, China, Japan, Southeast Asia, and the European Union.