Riga, Latvia-headquartered SIA Karavela exported more than 73 million cans of fish in 2021, reaching 45 countries, according to preliminary figures compiled by the company.
Exports accounted for 94 percent of Karavela’s production last year, with the fish canner benefitting from an ongoing EUR 16 million (USD 18.3 million) investment plan – designed to strengthen the company's competitiveness and promote the development of future projects until 2023.
"In the last two years, we have invested heavily in research and development of new products, and in 2021 the amount investments reached almost EUR 1 million (USD 1.1 million)," Karevela CEO and Co-owner, Andris Bite, said. "Last year, investments were made in the development of new products, resulting in the vegan canned fish products under the Fish Peas brand."
In 2022, the company plans to make further advancements in the Italian and French markets, and also significantly strengthen its position in the U.S. and Australian markets.
Bite said he expects the global food market to change this year, with new food-price levels forcing producers to think about how to adapt to the new conditions and continuing to operate. At the same time, he said retail store chains will be on the lookout for new opportunities.
"Karavela is fully prepared for the big changes with this year's planned projects, and we are ready to share our offers and solutions with our customers," he said.
In terms of raw materials, Karavela’s mainly uses mackerel, herring, sprat, tuna, salmon, and mussels for its products, which are mainly exported to countries like Germany, Sweden, Denmark, and the United Kingdom.
Karavela’s new plant-based seafood product line and brand, Fish Peas, was launched in the second half of 2021. Made mainly from yellow peas, the new seafood alternative range was the result of two years’ research and development. The company previously told SeafoodSource that it intends to use yellow peas for the manufacture of its new vegan tuna fillet product, which is expected to be launched this year.
Image courtesy of Karavela
