Japfa to double aquafeed production
The company reported a steadily growth of the aquaculture segment in the past few years and sees big opportunities in the aquaculture industry in the future.
Japfa is looking to double the group’s aquaculture segment in the next three to four years. The company reported a steady growth of the aquaculture segment in the past few years in a recent interview with Japfa CEO Tan Yong Nang. The company’s aquafeed sales volume increased by 22% in 2018 and 15% in 2019.
Japfa’s aquaculture business in Indonesia is one of the bigger animal protein players in the Indonesian market and the company sees big opportunities in aquaculture which has been producing very good results. The revenues, about $200 million, are still small compared to poultry ($2 billion), but the company stated that the market and research are moving in the right direction.
Besides aquaculture, the company is also involved in poultry, swine, beef, dairy and consumer foods in China, Indonesia, India, Vietnam and Myanmar.