Australian back tiger shrimp producer Seafarms Group claims to be seeing strong commitments from China for what it intends to produce from its land-based Project Sea Dragon (PSD) farms, but the active operations of the Nippon Suisan Kaisha (Nissui)-backed firm are ultimately loss-making, amid issues with broodstock.

Seafarms, which Nissui pumped AUD 24.99 million into last year for 14.99%, said it already has agreements with unnamed “Chinese corporations” to take 14,000 metric tons of production from PSD’s farms. As of Jan.1 2019, China has removed all tariffs on Australian seafood exports. Nissui will also act as a marketing arm for Seafarms’ shrimp, with Sealord Group, 50% owned by the Japanese firm, onboard as its sales partner in Australia and New Zealand [...]