Print This Page

China

Sino Agro on the Defense

 

In a 10-page memo, published on November 30, 2017, Sino Agro Foods (SAF) defends its prawn (Macrobrachium rosenbergii) farming record in China and offers a rebuttal to suggestions that its technology has inherent flaws.  The purpose of the memo is to “correct any misconceptions that may have arisen” from articles posted by Undercurrent News.

 

After SAF investors requested clarification on the Undercurrent articles, SAF said:

 

Undercurrent News “suggested the lack of shrimp…. is due to problems with our prawn technology and over exaggeration of its potential impact.  One of the articles claimed that choices of fish currently being raised at the farm are not economical....  Nothing could be further from the truth.”

 

The memo describes the delays at the start of the project, which including problems with funding, saying, “These are not problems with our technology to culture prawns, but necessary for operation of the indoor recirculation aquaculture system (RAS) at [the megafarm] as originally designed.  The primary issue is and always has been the lack of funds to complete the facility.  Our decision to not proceed with commercial prawn production at [the megafarm] was to ensure the technology would be successfully implemented, as planned.”

 

SAF adds that its production projections are based on replicated data obtained and extrapolated for the megafarm from two pilot farms established by Sino Agro in China.  Prior to building the megafarm, Sino Agro established Prawn Farm 1 and Prawn Farm 2 in Enping and Zhongshan, Guangdong Province.  Both farmed marine shrimp (Penaeus vannamei) and freshwater prawns (Macrobrachium rosenbergii) in recirculating systems.  “The production volumes achieved at these farms for prawns is a matter of public record in our [USA Securities and Exchange Commission] filings.”

 

Click here for a full copy of SAF’s memo.

 

Source: Undercurrent News (eight free news reads every month).  Editor, Tom Seaman (tom.seaman@undercurrentnews.com).  Sino Agro Defends Record Farming Fish, Shrimp, Stands by Megafarm.  Louis Harkell (louis.harkell@undercurrentnews.com).  November 30, 2017.

 

Print This Page