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Shrimp farmer secures $100 million retail deal

30 March 2019, at 3:15p.m.

Chinese e-commerce giant ecMAx has signed an agreement to buy €100 million worth of shrimp and other aquaculture products from Lim Shrimp Organization’s Indonesian operations over the next 10 years.

Lim Shrimp Organization (LSO) is an international fish and shrimp farming business, which developed and ran the world’s largest shrimp farm from 1987 to 2007. LSO now runs 12 LSO AquaVillage farms in Sumbawa, Indonesia, two in Thailand, one in Malaysia, one in Taiwan and four in China. It has plans to establish further AquaVillages in countries including Qatar, Saudi Arabia, Oman, Malaysia, China, Thailand, Philippines, Palau and the Maldives.

Sealing the deal
Sealing the deal

The agreement is with ecMAX e-commerce, an associate company of JD.com (market cap in Nasdaq US$48 billion) – the largest e-commerce solutions provider under the JD.com/Tencent platforms, with a gross merchandise value of US$1.14 billion in 2018.

ecMAX will utilise its strategic resources to represent LSO in China, establishing a distribution network that spans JD Fresh, the dedicated fresh food platform of JD.com, other online platforms as well as offline channels.

The produce will be shipped direct from Indonesia via Singapore. A brand new processing plant situated in Indonesia will be built this year, with investments mainly from Singapore.