by FoodBizDaily.com staff writer Bangkok
November 16 2009 - The weak abalone prices hits Oceanus Group, an integrated value chain player in the abalone industry and world’s largest land-based abalone producer.
The group reported increase sales volume of live marine product from 914.9 tonnes in nine-month 2008 to 934.6 tonnes in nine-month 2009. Sales values, however, has dropped by 26% to from US$ 79.7 in nine-month 2008 to only US$ 69.7 million.
The drop in sales value is due to the higher prices of abalones in 2008 before the financial crisis which had affected consumer’s confidence and eroded prices. Price of abalones has stabilized since June 2009 but is still lower than that before the financial crisis.
The group expects prices of abalone to improve gradually over the next few months due to coming festive Chinese New Year festival. However, sales of canned marine products and food and beverage have partially offset the decline in sales of live marine products.
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Oceanus Group Limited
Address: 61 Robinson Road, #12-03 Robinson Centre, Singapore 068893
Telephone: (65) 6837 0568
Fax: (65) 6837 2660
About Oceanus Group Limited
Oceanus is an integrated value chain player in the abalone industry. It is the largest land-based abalone producer in the world. It has more than 24,720 abalone breeding tanks and an abalone population of 176.9 million. Oceanus’ abalones are farmed inland in tanks ideally located along the coastal lines. Using scientific production system an processes, Oceanus’ premium abalones are bred under carefully controlled environment to maximize the growth survival and propagation.