SUBSCRIBE

Breaking News on Food & Beverage Development and Technology - Asia PacificEU edition | US edition

Headlines > Business

Read more breaking news

 

 

VIDEO: From earthquakes to sourcing strife - the challenges to open the world’s newest omega-3 fish oil refinery

By Gary Scattergood+

10-Apr-2017
Last updated on 11-Apr-2017 at 04:55 GMT2017-04-11T04:55:30Z

VIDEO: From earthquakes to sourcing strife - the challenges to open the world’s newest omega-3 fish oil refinery

Omega-3 fish oil supplier SeaDragon overcame a raft of challenges to open the world's newest refinery, with the firm now hopeful it can start recouping some of its NZ$11m investment.

As you can see in the video interview above with sales director Campbell Berry-Kilgour, the New Zealand firm faced additional construction hurdles due to the 2011 Christchurch earthquake, as well as then having to overcome challenges in procuring high quality tuna oil.

However, the Nelson-based company has recently signed a supply agreement for approximately 500,000 to 750,000kg of crude tuna oil from the Indian Ocean over the next 12 months, along with 500,000 to 1,000,000kg from the South Pacific, South East Asia and South America.

The focus now is very much on securing significant sales, especially in light of recent guidance to shareholders – which includes honey firm Comvita – that the company is forecasting a loss in the region of $4.3m-$4.5m for the year ending March 31, 2017.

This result is a reflection of the time it has taken to transition the business from its legacy Omega-2 business to Omega-3 fish oils.

Japan capacity

As Berry-Kilgour points out in the video, a considerable amount of time has also been spent ensuring the refined oil meets a number of regulatory requirements for multiple markets, while also exploring potential new uses for its high DHA oils.

He says he is particularly encouraged by the response he has received in Japan where existing refineries are running close to, and in some cases over, capacity.

The Nelson refinery can run for 24-hours a day with many of the processes fully automated. The company believes it has the potential to generate NZ$50m annual sales and has the capacity to refine up to 5,000 tonnes of oil each year.

However, the company doesn’t expect to reach production in the next financial year.

One of Berry-Kilgour’s key ambitions for the next 12 months is for a New Zealand brand to launch the country’s first omega-3 products containing wholly New Zealand-refined oils.

Take a look at the video to hear him talk about the challenges the new refinery has posed, as well as the considerable opportunities he believes it offers.

VIDEO: From earthquakes to sourcing strife - the challenges to open the world’s newest omega-3 fish oil refinery

VIDEO: From earthquakes to sourcing strife - the challenges to open the world’s newest omega-3 fish oil refinery

Omega-3 fish oil supplier SeaDragon overcame a raft of challenges to open the world's...

VIDEO: The top consumer trends driving business innovation at Ingredion

VIDEO: The top consumer trends driving business innovation at Ingredion

Ingredion may be best known for its clean label products, but according to the...

VIDEO - Singapore’s war on diabetes: Industry, academics and government 'need to line up like hunters'

VIDEO - Singapore’s war on diabetes: Industry, academics and government 'need to line up like hunters'

With a staggering one million Singaporeans forecast to have type 2 diabetes by 2050...

VIDEO: Asia is still the growth engine of the food world, Singapore CEO

VIDEO: Asia is still the growth engine of the food world, Singapore CEO

Better productivity, more reliable logistics and enhancing export oppotunities - these are just three...

VIDEO: Talking trends – Chr. Hansen on the probiotics and healthy dairy boom driving growth across Asia Pacific

VIDEO: Talking trends – Chr. Hansen on the probiotics and healthy dairy boom driving growth across Asia Pacific

Probiotics, functional dairy and natural colours – combined with Asia’s rapidly changing lifestyle and...

VIDEO: Infant nutrition - the latest health demands, consumer trends and fortification needs in APAC

VIDEO: Infant nutrition - the latest health demands, consumer trends and fortification needs in APAC

The challenges in the battle to provide adequate infant nutrition across APAC are as...

VIDEO: Meet Ms Ugene, the state-of-the-art Singapore robot testing TCM and food products

VIDEO: Meet Ms Ugene, the state-of-the-art Singapore robot testing TCM and food products

No errors, no mood swings, no sick leave, and she can process three sets...

Video: ‘We’re investing where the market grows…and that’s Asia’

Video: ‘We’re investing where the market grows…and that’s Asia’

Distributor Jebsen & Jessen has been splashing the cash in Asia, having recently opened...

Riclan Brazil calls for more African presence at Gulfood

Brazil candy firm Riclan calls for more African presence at Dubai tradeshow

Riclan candy company wanted to see more African firms and visitors at Yummex Middle...

KitKat white space opportunities in China, Vietnam and Pakistan

KitKat white space opportunities in China, Vietnam and Pakistan, says Nestlé countlines chief

Stewart Dryburgh

Global head of KitKat and chocolate countlines, Nestlé

Seadragon sets out to breathe fire into Kiwi fish oil

Seadragon sets out to breathe fire into Kiwi fish oil

The town of Nelson will welcome New Zealand's first omega-3 fish oil processing plant...

Lab meat, plant proteins and insects: Which alternative proteins will feed the world?

Lab meat, plant proteins and insects: Which alternative proteins will feed the world?

The quest for alternatives to animal-derived proteins has led to a huge amount of...

Germvangelist set to shake Probiota with holistic shout

Germvangelist set to shake Probiota with holistic shout

Jason Tetro

Researcher, author, The Germ Guy

Dairy ingredients giant on Indonesia: ‘A lot of opportunities here’

Dairy ingredients giant on Indonesia: ‘A lot of opportunities here’

Jake Riddle

General manager, Kerry Asia Pacific

Indonesia stakes claim as SE Asia's most important food market

Indonesia stakes claim as SE Asia's most important food market

Indonesia's food industry will continue to grow in importance as its population of around...

NPD category busters: From ‘Teagurt’ to coffee fruit energy to Milo expansion

NPD category busters: From ‘Teagurt’ to coffee fruit energy to Milo expansion

Jane Barnett

Insights manager for Australia-New Zealand, south east Asia and India,...

Malaysia to double palm oil production by 2020

Malaysia hopes to double palm oil production by 2020

Kalanithi Nesaretnam

Minister, Embassy of Malaysia in Brussels

Mooted novel food changes will open exotic fruit doors in EU

Mooted novel food changes will open exotic fruit doors in EU

Dr John Wilkinson

Consultant and EU Novel Foods expert

UHT 'preferred format' to meet Vietnam rural distribution challenges

UHT 'preferred format' to meet Vietnam rural distribution challenges: Tetra Pak

Bert Jan Post

Managing Director , Tetra Pak Vietnam

Key Industry Events

 

Access all events listing

Our events, Shows & Conferences...