Marubeni Corporation has signed a letter of intent to collaborate with insect producer Ÿnsect to enter the Japanese market.
“Japan is the second largest user of fishmeal in the world, and there is a growing need for solutions to develop alternatives to imported fishmeal, the price of which is expected to continue to rise in the future,” Marubeni said. “There are concerns about a supply-demand crunch of fishmeal such as anchovy, which is an indispensable feed ingredient for the aquaculture industry, including yellowtail and sea bream.”
“Marubeni and Ÿnsect will contribute to the establishment of a sustainable aquaculture industry and food supply chain in Japan where the consumption of edible fish and shellfish is one of the highest in the world,” the company said.
Marubeni is engaged in diversified businesses and trading, including the production of aquaculture feed, to contribute to the stable supply of food by securing high-quality protein sources such as grains, livestock products, and marine products. Marubeni aspires to be a forerunner in “Green Business” and is focusing on eco-friendly food products in their mid-term management strategy GC2024.
Founded in 2011, Ÿnsect operates three production sites around Europe and the US. Ÿnsect is currently commissioning a fourth site, the world’s largest vertical farm in the world, in France and is already producing and selling products for livestock, aquaculture, pets, food, and fertilizer.