Skretting, the world's largest fish feed company, is considering building a new feed mill in New Zealand to meet the rising feed demands from the expanding aquaculture and fish consumption in the region. Currently Skretting is importing thousands of tonnes of fish feed, to satisfy the feed demands of the aquaculture industry in the region.
Expansions in feed production in neighbouring Australia have seen Skretting cut the amount of raw materials it needs to import for its feed in Australia from 70% down to 30%, and Skretting would like to achieve similar results in New Zealand.
Managing Director of Skretting Australia James Rose, has stated that despite the small size of the country's farmed fin fish industry, which is now at approximately 10,000 tonnes a year, would not make a feed mill there viable yet, at 25,000 yearly tonnes the economics became "very interesting".
Increased focus on the aquaculture industry and new legislation introduced by the government, mean approval for new aquaculture projects is alot easier and allow for quicker and smoother growth of the fin fish and aqauculture sector. By 2025 the sector hopes to increase it yearly revenue three-fold from it's current 1 billion NZD ($765.8 million USD) level.