The BioMar Group says that it averaged a below one Fish-In Fish-Out (FIFO) ratio for its raw material usage for the first time in its company history.
In the group’s annual sustainability report, it said it has achieved this by taking advantage of innovative technology and a high-priced fish oil and fishmeal market.
BioMar CEO, Carlos Diaz, said that the company will continue its search for innovative and sustainable solutions to address issues facing the industry.
“Although it is unlikely that BioMar will achieve such a good FIFO ratio every year due to ever changing market conditions, this is a major milestone and shows that we are progressing towards an industry where sustainable and high performance alternatives to fish oil and fishmeal are accessible and becoming commercially viable,” he said.
BioMar has over several years aimed to take the lead in researching alternative materials for fish oil and fishmeal, including plant proteins and marine ingredients like micro algae.
But it was new alternative raw materials, as well as high prices of fish oil and fishmeal in 2016, made it possible to formulate price competitive, high performance feed with a low FIFO ratio.
The report showcases just some of the success stories BioMar achieved in 2016 including the partnership with Aker BioMarine to sustainably harvest krill from the lower trophic levels and an article on novel sources of marine omega-3s.
The BioMar Group’s 2016 sustainability report has also achieved a “Top 5%” status by Seafood Intelligences’ independent benchmarking report, 'World’s Top 100 Seafood Firms in Sustainability Reporting and Transparency'.
