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1. Extract 3: Barramundi Asiarollsoutambitiousgrowthplan
Singapore-basedBarramundi Asiahasbigplansforgrowth.The companyfarmsthe barramundi fishin
deepseawateroff Singapore’ssouthernisles,aswell asaroundthe Islandsof the Kimberleyoff northern
Australiaanda newfarm setup inBrunei’swaters.The companyisworkingtoscale annual production
up to 50 000 tonnesof barramundi by2030. Barramundi Asiauseshi-techautomatedfarming
processes,harvestingwhenitsfishgettofourto five kilogramsinsize.‘The overwhelminggrowthinfish
farmingforthe future isstill here inAsia,’saidthe chief executiveofficer(CEO).‘Singaporeisan
international financial hub,andhasproximitytoourkeybusinessactivitiesinBrunei andAustraliaas
well asour local researchanddevelopmentsites.’Currently,the company’sproductionisaround4000
tonnes,witharound700 tonnesproducedinSingapore and3000 tonnesproducedinAustralia.Itmakes
aroundSG$20 millioninannual revenue –notenoughtomake it profitable yet.Butthatisdue to the
company’saggressive growthplansforthe nexttenyears.Byexpandingitsoperationsacrossitsthree
farmingsites,Barramundi Asiasaysitison track to produce more than 11 000 tonnesof barramundi fish
by 2023. And that couldgrowby evenmore if the companyaddsmore new farms.Because of the
geographicdistance betweenitsfarmingoperations,Barramundi Asiahasfounditmakesbothlogistical
and financial sensetoownandoperate itsentire supplychain:breedingandprocessingthe fish,
managingthe farms,as well asrunninga salesandmarketingoperation.Barramundi Asiasaysitcan
produce itsownvaccinesand hasmethodsof farmingbarramundi fishfromsmall frytofully-grownfish,
as well asa sophisticatedsalesandmarketingoperationwithonline shops,home deliveryandastrong
brand.It alsonow hasgeneticsexpertise,afterstartingtoworkwithTemasekLife Sciences,anon-profit
organisationspecialisinginfishgenomicsandbreedingprogrammes.‘Canwe getto50 000 tonnes?I
believeso. It’snotgoingto be easybut we’re quite confident,’saidthe CEO.‘Ido believe we have the
capabilitiesinplace todeliveronourexpansionplans.I’mveryhighinconfidence we canmake it
happen.’
Source:SeafoodSource,28January2020
2. DiscusswhetherBarramundi Asia’splantoincrease itsscale of fishproductionislikelytobenefit
consumers.[20]