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April 22, 2015

Japan

Marubeni Wants to Acquire Shrimp Farms

 

Marubeni, the Japanese trading conglomerate, is looking for acquisitions in wild and farmed shrimp, said Tom Miki, who heads the seafood unit of Marubeni, which has revenues of around $2 billion.

 

Marubeni acquired USA shrimp importer Eastern Fish Company in 2014, giving it more exposure in shrimp sales.  In Japan, Marubeni has shrimp sales of around $200 million, with Eastern Fish adding around $450 million to that.

 

Miki said finding good investments in the shrimp industry is a real “headache”.  “We believed Thailand was that country, then look what happened,” he said, referring to early mortality syndrome (EMS).  The general unpredictability of shrimp farming makes it a tough sector to invest in, said Miki.

 

In the past, Marubeni had an investment in giant tiger farming in Thailand, which it exited in the late 1990s.  That does not deter Miki, however, who sees the need to “secure some resource” on such an important product.

 

Marubeni is looking at both Asia and Latin America for an opportunity in shrimp.

 

Source:Undercurrent News [eight free news reads every month].  Editor, Tom Seaman.  Marubeni Eyes Upstream Deals in Shrimp, Salmon.  Tom Seaman  (undercurrent@undercurrentnews.com).  April 22, 2015.

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