Tuesday, April 10, 2012

Plans for world's largest lobster farm in Malaysia

California spiny lobster
Orlando based Darden Restaurants are planning to create the world's largest lobster farm, this will allow the company to sell lobster in Asia and supply them to its chain such as Red Lobster. The farm will allow Darden to partially shield itself from rising seafood costs well creating a new revenue stream. Lobster farming is in its infancy and it is extremely difficult which could keep prices lower for consumers and increase pressure on fishermen due to the competition.

"If there's a way to do lobster this way, it increases the supply of lobster," said Mark Kalinowski, a restaurant analyst for Janney Capital Markets. "It doesn't necessarily increase the demand for lobster. All else equal, the cost of lobster drops." Darden says it thinks its facility will be the world's first commercial lobster farm. Through a subsidiary called Darden Aquafarm, the company will work with a Malaysian group to build the 23,000-acre production facility. The farm will employ 12,000 workers and eventually churn out 40 million pounds of lobsters each year. That's about US$1 billion (€765 million) worth. Read more ...

This blog is written by Martin Little, The Aquaculturists, published and supported by the International Aquafeed Magazine from Perendale Publishers. To get your copy of 'PPLAPP' click here.
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