Port Lincoln-based seafood producer, Clean Seas Seafood has announced significant growth and improved boosts to farm gate prices for its yellowtail kingfish.
Increased sales of 17 per cent, revenue growth of 28 per cent, new international accreditation and a farm gate price increase of 20 per cent were reported by the kingfish producer for the first quarter of this financial year.
In an October report, the company stated it saw significant higher farm gate prices compared to the last financial year with the ‘large fresh’ farm gate increasing by $2.31 per kilogram to $13.58 per kilogram.
The ‘large fresh’ category accounted for 62 per cent of Clean Seas’ volume and 69 per cent of the company’s revenue reflecting growth in their frozen products.
The company sold 650 tonnes of kingfish for the first quarter which was a 17 per cent volume increase which resulted in a total sales revenue of $10.2 million.
"Fresh product sales volumes were stable despite significantly higher farm gate prices while frozen product sales volumes increased,” Clean Sea chief executive officer David Head said.
In a successful effort to expand the business’ export market potential, Clean Seas also gained American Food and Drug Administration and European accreditation for its new processing plant in Adelaide.
The new in-house facility at Royal Park in Adelaide is currently processing almost all fish for the Australian market and has started introducing export processing.
Clean Seas’ recently acquired the newest rapid-freezing technology which will be commissioned later this year.
The technology was trialled in June where the kingfish underwent rapid-freezing for company staff and Port Lincoln locals to taste test.
During the trial, Clean Seas chief executive officer David Head said the technology would allow the company to export the fish around the world in “far better condition” than anything else available.