|
Sturgeon farm to ship live fish to generate cash
Acadian Sturgeon and Caviar Inc. will send its first shipment of live sturgeon to Asian customers this summer as the Carters Point firm looks to feed on global demand sparked by depleted stocks of the fish.
The Taiwan and South Korea shipments are central to the company's plan to generate cash flow for the construction of a sturgeon farm that would produce what has been called Acadian black gold.
Sturgeon caviar is a delicacy around the globe and wild stocks, particularly in the Caspian Sea, have dropped by as much as 90 per cent in the past 20 years.
Acadian Sturgeon, trying to find funds for a $4-million farm, sells live fish, ranging from fertilized eggs to juveniles, from its small hatchery to markets in the United States, Poland, Germany and, soon, Taiwan and South Korea.
The revenues are poured back into the company as it positions itself to be one of a just a few sturgeon caviar-producing farms in Canada within the next few years.
"The global supply is getting lower, especially for live fish and, with our knowledge of raising and spawning those fish, we are one of the only companies doing it in the world," said company president Cornel Ceapa.
Supreme Sturgeon and Caviar, based in Pennfield, was the first Canadian sturgeon farm to sell caviar to the domestic market when it launched production two years ago. The company is also looking to foreign markets, beginning with France in the next two to three months.
Another firm in British Columbia has its eye on caviar markets, but is struggling to mature the fish for production.
Acadian Sturgeon will get its feet wet in foreign markets for caviar this summer, when it launches production with wild fish from a small commercial fishery on the St. John River.
The production will not only help generate much-needed cash flow for a fully operational farm, but it will also develop markets for the farmed caviar.
"Cash flow is very important for us at this stage, but we also need to develop the markets," said Ceapa.
"By having access to this small market for meat, together with our markets for live fish, we will have the money and the experience to export aquaculture caviar to our customers."
Ceapa's unique business model had him named one of the top up-and-coming entrepreneurs in New Brunswick.
The G. Wallace F. McCain Institute hand-picked 15 business leaders to participate in a monthly boot camp beginning in July that will provide them with crucial advice to take their companies to the next level.
Ceapa said raising funds is his most critical problem.
"It's really difficult to finance exports because we are a small company," he said. "But the data has said the markets will be good for our products not only now, but also in the future."
|
