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More CP Prima Shrimp Heading for Europe

Crustaceans Sustainability Economics +4 more

INDONESIA - Publicly listed shrimp producer Central Proteina Prima (CP Prima) will soon export more frozen shrimp and food to Europe as it is seeing increased demand after recently receiving an international food certification.

The certificate from US-based Aquaculture Stewardship Council (ASC), obtained last year, marks the business as living up to good environmental practices and international standards of hygiene, reports the JakartaPost.

“With this certificate, our products will sell better in the international market, especially in Europe,” said CP Prima president director Irwan Tirtariyadi.

The company is planning to send its products to Italy, Cyprus and Scandinavian countries, adding to its existing markets that include UK, Holland and Germany.

CP Prima, whose local brands include “Fiesta” and “Champ”, relies on exports, with those accounting for 89 per cent of its net sales. Last year, it sold 24 thousand tons of shrimp and other food products, which include fish products and feed for shrimp and fish.

It has exported shrimp products worldwide since 1990, its biggest market being the US, followed by Europe and Japan with made-to-order brands, including “Bird River” in the US.

CP Prima investor relations head Armand Ardika said after the certificate was issued, the firm had received more orders from various fish distributors in Europe. Those include the UK’s food conglomerate J. Lyon & Co and Cyprus’ Young’s Seafood Ltd, a fast food chain that plans to make shrimp burgers, as well as distributors in Norway and Denmark.

Armand acknowledged that the recent decision by the UK to leave the European Union on was sending the euro and the pound down and might potentially lead to weaker economies. However, he said demand for shrimp was likely to remain stable, just with different preferences.

“People may prefer smaller shrimps with lower prices as the economy gets suppressed but we will always follow market demands and customize the products,” he told the newspaper.

Irwan said it was hoped the boost in exports would grow the firm’s revenue by 7.9 per cent to Rp 9.6 trillion (US$716.4 million).