Singapore-based Barramundi Group has begun operating its recirculating aquaculture systems (RAS) hatchery and nursery in Brunei.
The company said in its third-quarter business update both facilities are now fully operational, a milestone in its goal to produce 920,000 fish sized at 250 grams per year in its 10-hectare sea nursery in Brunei. The RAS project in Brunei is part of Barramundi Group’s expansion plan to reach 7,000 MT of barramundi production by 2026, which the company said it is “on track” to realize.
In Q3 2021, Barramundi Group completed the second sea transfer into its farm in Brunei, and brought online a pilot plant to producing 5,000 kilograms of barramundi fingerlings per batch. The company plans to produce 3,000 MT per year at its 100-hectare grow-out farm in Pelong by 2026, it said, and it’s also planning to open a new, 6,613-hectare farm in the future, Barramundi said.
In Singapore, Barramundi is hoping to receive a license for its new farm site at St. John’s Island by early 2022. The company has already completed some assessment work at the project, including bathymetric and hydrodynamic studies and environmental surveys and assessments.
Barramundi Group currently produces a combined 2,000 MT of barramundi in its farms in Singapore, Australia, and Brunei. In its Q3 update, it said it achieved strong sales growth in both Australia and Singapore as it was able to acquire several new customers in the hotel and restaurant industries. The company did not provide sales or profit numbers. It incurred a loss in the first half of this year despite a growth in sales.
Barramundi Group also announced its in-house processing and product development subsidiary, Fassler Gourmet, has become one of the three largest meat and seafood sellers on e-commerce marketplace Shopee. Its sales on the platform grew 194 percent in Q3 compared to Q2 2021.
“Barramundi Group’s growth strategy is focused on three key areas: industrializing production, increasing our market share, and developing a sustainable barramundi ecosystem. The developments we have shared in our third quarter update demonstrates that we are well on the right track in making the strategic advancements needed for our growth strategy, which will in turn cement our position as the world leader in barramundi aquaculture and technology,” Barramundi CEO Andreas von Scholten said. “Our strategic focus remains clear: to strengthen our offering and deepen our expertise in the aquaculture sector through continuous innovation and development, whether it is commercially or operationally. We are excited to see our continued efforts bring us closer to our goal of achieving at least a three-fold growth in production to 7,000 [metric tons] by 2026.”
Photo courtesy of Barramundi Group
