Upgraded Fish Species Developed at Aquafarm 2
GUANGZHOU, China-- Sino Agro Food, Inc. (OTCQX: SIAF | OSE: SIAF-ME), a
specialized investment company focused on protein food including seafood and
cattle, is pleased to announce that its former subsidiary, Tri-way Industries
("TW"), in which Sino Agro Food, Inc. holds a 36.6% ownership interest, has
updated plans for its Aquaculture Farm 1 ("AF1") and Aquaculture Farm 2 ("AF2").
In addition to production, AF2 houses Tri-way's research and development
facility, where new species are tested for commercial viability. One of the
advantages of the indoor A Power Recirculating Aquaculture System ("APRAS") is
the flexibility to harvest different seafood species, enabling Tri-way to adapt
to changes in pricing and supply conditions. Two new fish species are currently
being grown successfully at Aquaculture Farm 2. These are highlighted in a new
television segment aired by Guangzhou NanFang TV, the latest in a series:
http://www.sinoagrofood.com/content/AF1-2_2017
Pearl Grouper
Pearl Grouper is a tropical marine species, growing mainly along the southern
coasts of China during the warm seasons. Yet the APRAS technology has
demonstrated the ability to grow them successfully inland and indoors. This is a
commercially attractive species in the long term, as restaurant demand drives
estimated consumption upward of 0.5 million MT/year in China. Wholesale prices
are expected to sustain at USD 10-12/kg and to generate reasonably strong and
consistent profit margins all year long.
Tri-way intends to dedicate all of the 16 APM units at its AF1 facility in
Enping to raising a branded Pearl Grouper product. Stock is purchased from
coastal farms at 350 to 500 gram/fish, then fattened and grown to 1.2 to 1.4 kg,
the optimal size for restaurants. The key benefit of this species is its fast
growth rate in APM tanks, targeting 45 days, or an inventory turnover of 8
cycles per year with a capacity of 20,000 fish per APM unit per cycle.
Empurau
At AF2, Tri-way is currently raising thousands of Empurau an especially prized
delicacy. Empurau is a native species of fish originated from Malaysia and well
-known there for the last century. Empurau translates as "unforgettable,"
because of its unique and unforgettable taste.
The Empurau population has been dwindling in its native habitat as a result of
hunting by anglers, fishers and others, mainly as a result of the high demand
and premium pricing this species fetches from the market. Triway's effort, if
goes as planned, will contribute toward helping to curb the decimation of its
wildlife population, while maintaining production at levels capable of
continually garnering a premium return from the market.
With dwindling supplies in its native habitat and high demand, the current
wholesale market price in Malaysia for wild-captured live Empurau is USD 320/kg.
Adding supply of aquaculturally grown makes it difficult to predict long-term
commercial viability, as the optimal market size is 2 kg, such that current
supplies at AF2 reach maturity in mid 2018. Though slow growing, the key
benefits of this species are price and the positive branding effect of adding a
super high-end fish to Tri-way's product line of safe, healthy, indoor harvested
seafood.
Peter Grossman
Investor Relations
1 (775) 901-0344
info@sinoagrofood.com
Todd Fromer / Elizabeth Barker
1 (212) 896-1215 / 212-896-1203
SIAF@kcsa.com
Nordic Countries
+46 (0)8 120 558 30
info-se@sinoagrofood.com (erik.ahl@sinoagrofood.com)
About Sino Agro Food, Inc.
SIAF is a specialized investment company focused on protein food. The Company
produces, distributes, markets, and sells sustainable seafood and beef to the
rapidly growing middle class in China. Activities also include production of
organic fertilizer and produce. SIAF is a global leader in developing land based
recirculating aquaculture systems ("RAS"), and with its partners is the world's
largest producer of sustainable RAS prawns.
Founded in 2006 and headquartered in Guangzhou, the Company had over 550
employees and revenue of USD 343 million in 2016. Operations are located in
Guangdong, Qinghai, and Hunan provinces, and in Shanghai. Sino Agro Food is a
public company listed on OTCQX U.S. Premier in the United States and on the Oslo
Børs' Merkur Market in Norway.
News and updates about Sino Agro Food, Inc., including key information, are
published on the Company's website (http://www.sinoagrofood.com), the Company's
Facebook page (https://www.facebook.com/SinoAgroFoodInc), and on twitter
@SinoAgroFood (https://twitter.com/SinoAgroFood).