Brazil – a seafood giant in the making
Global banking group, Rabobank, has released a new report outlining the potential of Brazil's aquaculture sector called ‘Brazilian aquaculture - A Seafood Industry Giant in the Making’.
The new report argues that Brazil has all the necessary ingredients to become the next seafood super power, rivalling established producers such as Thailand, Norway and China.
But in spite of its intrinsic natural resources and large availability of grains, it says that the Brazilian seafood industry still has to overcome significant barriers to realise its potential, including heavy bureaucracy to obtain licences to start an aquaculture operation, lack of biosafety standards, low yields and a relatively underdeveloped feed industry.
Despite the challenges to be overcome, Rabobank believes the outlook for the seafood sector in Brazil is quite bright. It says that growing domestic consumption together with opportunities in the export side will contribute to put the country on the radar of the leaders in the global seafood companies, and may also entice Brazilian meat giants to venture into the aquaculture sector.
Guilherme Melo, Rabobank analyst, commented: “Brazil’s intrinsic natural resources make it a potential aquaculture powerhouse. Its exclusive economic zone (EEZ) - sovereign territorial waters - is one of the twelfth largest areas of water in the world, measuring 3.5m km2. Brazil also possesses 12% of the planet's available freshwater reserves, with over 5.5m hectares of federal controlled land.”
The report is available from the Rabobank website