Aerial view of Kingfish Maine's proposed aquaculture facility.
The Kingfish Company.
The Kingfish Company confirmed through its trading update that Phase 2 expansion was completed and fully operational before the end of December, resulting in all tanks being fully stocked.
In addition, it mentioned the hiring of Gudo klein Gebbink as the new Commercial Director. Gudo worked for Cargill/Provimi for 18 years and was hired by Royal Agrifirm Group as Managing Director of EMEA for its Nuscience brand.
This event has led to the total production capacity reaching 3,500 tons. "The biological performance of the new farm is excellent and continues to exceed our expectations," the company stated.
CEO of The Kingfish Company, Vincent Erenst, said: "The completion of Phase 2 marks the beginning of an accelerated sales phase. In a strategic move, we welcomed a new Commercial Director, Gudo klein Gebbink, in January 2024. This role is pivotal in driving the expansion of our customer base and boosting sales across both existing and new markets."
According to the trading update, the standing biomass doubled to 967 tons compared to the previous year, with a net growth of 635 tons. This means a significant rise from the Q4 2022 figure of 408 tons.
Finally, it confirmed that prices in the primary European markets stayed steady, despite the rise of competition in the US frozen market and softer markets at the start of the fourth quarter. "As the year concluded, demand in key markets strengthened, underlining the market appeal of Dutch Yellowtail," it concluded.
