Dutch Yellowtail kingfish producer, The Kingfish Company, has reported a strong improvement in earnings during Q1 2023 thanks to high demand and increased prices.
“It has been a great start of the year for The Kingfish Company, with record sales and continuous production improvements,” said Vincent Erenst, chief executive of The Kingfish Company, adding that the company was increasing production to meet the growing demand.
“The commissioning of the Phase 2 extension installation started in January, and we have now a fully functional state-of-the-art hatchery that has delivered the first batches of excellent quality fingerlings,” he said.
Sales for the quarter reached €5.6 million, up 55% compared to the first quarter of 2022. Volume sold increased 18% year-on-year, to 375 tonnes.
The Phase 1 plant produced 421 tonnes in Q1, setting a new productivity record of 0.86 kg growth/m3/day.
Phase 2 extension
The Phase 2 extension has begun with a new pumphouse and second hatchery operational since January this year. Two batches of fingerlings have already been delivered. However, delays to the development of automated systems and software as resulted in a revised plan meaning commissioning of the first of three new grow-out systems will now start in May.
The delays are not expected to impact the 2023 harvest volume and capacity is expected to more than double once the new extension is complete.
