Quartet of Irish seafood firms pool resources to crack Chinese market

Four Irish seafood companies have pooled their resources to set up Jade Ireland Seafood Ltd, a joint venture with an office based in Shanghai, China.

Aided by seafood authority Bord Iascaigh Mhara (BIM), McBride Fishing, Carr Shellfish, Sofrimar, and Shellfish de La Mer have jointly developed a brand entitled Ocean Jade, which is aimed at the Chinese market. The firms have bases in Donegal, Wexford, and Cork.

Jade Ireland director Hugh McBride said: “The Irish seafood sector is small in comparison to our competitors and we quickly realised that in order to compete effectively and to supply such a large and growing market in China, we would need to use our collective resources to do so.

“Our strategic vision is to establish Irish seafood and the Ocean Jade brand as the leading premium quality seafood on the Chinese market. On behalf of the group, I would like to thank BIM and Bord Bia for all their assistance to get this project up and running.”

Bord Bia hosted Jade Ireland’s launch at this week’s Chinese seafood trade show Fisheries and Seafood Expo in Dalian. A total of 12 Irish seafood companies are exhibiting at the Ireland stand, the country’s largest ever national pavilion at a seafood trade fair in Asia. The seafood expo attracts more than 15,000 visitors.

Traditionally, Irish seafood has concentrated on key markets in France, the UK, and Germany, with a smaller niche markets in Asia. However, with an ever increasing population and middle-class dynamic, China offers the Irish seafood sector the potential for real growth.

Total exports of Irish seafood to China in 2011 were €2.9m. Latest data up to July 2012, details exports at €5.3m. This equates to an 80% increase on 2011 before year end.

The four companies behind Jade Ireland Seafood already enjoy collective revenues of €45m, with established clients in France, UK, Spain, Italy, and Korea.

Collectively, through Jade Ireland, they can now provide customers in China with a diverse range of live and value added seafood products including crab, lobster, mussels, prawns, scallops, and white fish.

BIM business development and innovation manager, Donal Buckley, said: “Irish seafood enjoys an excellent reputation internationally and with exports to China up 80% so far this year compared to last year, we have a real opportunity to establish a presence in this growing and profitable market.

“In order to do so, we need to build scale and we are pleased to have assisted four international joint ventures this year including Jade Ireland to ensure we can access and serve key markets effectively.”

Jade Ireland has established a presence in Bord Bia’s Irish food hub, which is based in Shanghai.

Tara McCarthy, director of food and beverages with Bord Bia, said “This collaboration is an excellent example of co-opetition as a business strategy. Bord Bia actively supports and promotes the principle of co-opetition, where food companies work together to create synergies resulting in cost savings, improved returns and increased market distribution.”

Jade Ireland owns a fleet of fishing vessels and four world class processing facilities. The sharing of resources across the four companies means that seafood is caught and processed quickly, ensuring that a high quality traceable seafood product is supplied onto the market all year round.