The feed, agricultural, finance and industrial products giant Cargill continues to build their profile in the aquaculture sector with a multi-million dollar investment in a shrimp feed facility project in Ecuador.
The company, based in the US State of Minnesota, dropped a $30 million dollar investment in a joint venture with Naturisa to build a new shrimp feed mill that will produce 130,000 metric tons annually and employ 260 people when the facility is fully operational in 2017.
Cargill will own 75 percent and have managerial control of the day-to-day operation, while Naturisa will retain 25 percent in the joint venture. The investment creates an opportunity for Cargill to grow in aquaculture in Ecuador and opens the door to future investment opportunities for other commodities in the market, according to the US company.
Through its Americus Marketing Group, Cargill has imported agricultural commodities into Ecuador for a number of years. Naturisa, Ecuador’s second largest shrimp producer and the fourth largest exporter in the country, is a major player in the regional aquaculture industry.
The aquaculture business of Cargill is still small compared with Cargill’s feed mainstay, the traditional livestock and poultry industries. But it’s growing about twice as fast.
“This joint venture with Naturisa positions us to become one of the largest producers of shrimp feed in Latin America,” said Sarena Lin, president of Cargill’s animal feed and nutrition business, in a statement announcing the deal. “It creates new opportunities for both organizations’ customers and stakeholders. Combining Cargill’s vast resources and global reach with Naturisa’s expertise will allow the new organization to provide the best solutions to our customers and ultimately support the growth of Ecuador.”
— Erich Leuning
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