Enping A Power Fishery Development Co. (EAPF) — a subsidiary of Sino Agro Food, an integrated, diversified agriculture technology and organic food company operating in China, has landed a contract with Guangxhou Jinyang Aquaculture Co. (GJAC).
The contract is for the supply of 500,000 sleepy cod (Oxyeleotris lineolatus), a freshwater fish native to northern Australia, in 2012 and 800,000 fish in 2013. The contract also includes the supply of 250 tons of bait fish in 2012 and 500 tons in 2013.
GJAC specializes in nursery services and breeding a number of high-quality fish, including puff fish, murray and sleepy cod. The company has more than 164 acres of production area in the Pun Yu District.
“With these supplies and additional supplies from alternative sources, we anticipate that Enping A Power Fishery will be able to produce a minimum of 500 tons of 1,000 tons of sleepy cods at minimum marketable weights of 500 grams per fish in 2012 and 2013, respectively, thus eliminating part of the growing risk involved in the growing from baby fingerling to 300 grams per fish,” said Solomon Lee, CEO of Sino Agro. “The supplies are based on a fix cost such that it will also eliminate the variation of fish supply cost due to seasonal factors. Based on current wholesale prices, EAPF is targeting and projecting USD 13.5 million and USD 27 million of fish sales for 2012 and 2013.”
