Clean Seas on course for 30% production increase

Australian yellowtail kingfish farmer Clean Seas Seafood has reported a strong trading performance and positive operating cashflow of A$600,000 for the first quarter of its 2023 financial year.

The Adelaide-based farmer, which sold 3,757 tonnes (whole fish equivalent) of Seriola lalandi in its last financial year, said target harvest volumes and inventory levels had been achieved and it was on track to deliver an annual harvest of around 30% more in FY23.

Clean Seas said strong demand and the absence of surplus frozen inventory continued to drive growth in pricing to an average of A$21.78/kg in Q1 FY23, while farmgate revenue of A$17.49/kg was up 64% on the A$10.68/kg achieved in Q1 FY22.

Sales revenue of A$16.1 million in the first quarter of FY23 was 6% ahead of Q1 FY22, while farmgate revenue of $A12.9 million was 13% up on Q1 FY22.

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