Growing demand from Japan and South Korea is set to increase shrimp exports from seafood processing plant Nautisco Seafood Manufacturing Ltd, according to Chief Executive Officer Sam Peou.
“Our shrimp exports have been increasing every month, due to the soaring demand.”
The company has exported around 300 tonnes of shrimp since January to South Korea and Japan, a 20 percent increase from 250 tonnes in the same period last year, he said.
“Shrimp is very popular on both these markets and we expect to exports to reach 800 tonnes by the end of the year.”
Nautisco has agreed to provide a total of 60 tonnes per month to South Korea and Japan, fetching between US$4,000 and $15,000 a tonne, said Sam Peou.
The processing plant, based in Preah Sihanouk province’s Steung Hav district, however, is currently only purchasing between 1.5 to 3 tonnes from local fisherman each day, he added.
“It’s not enough shrimp to process for export, sometimes the fisherman are unable to provide us with anything.”
Sam Peou said that Nautisco are looking for a business partner to invest in a potential $10 million, 200 hectare shrimp farm, in order to ensure export stability in the coming years.
“Our research shows that international markets, such as Japan, South Korea, USA and Canada, demand 3,000 to 5,000 tonnes per annum, so this why we want to expand.”