Frabelle Fishing Corp. (FFC), one of the largest tuna fishing and canning operators in the Philippines, has expressed interest in exploring business opportunities in India, including buying raw produce and putting up canning facilities in the South Asian country.
“India has a potential to produce 230,000 metric tonnes of tuna annually, of which 40% are skipjack and the rest are big eye and yellowfin. That’s something worth looking into by way of putting up the facility or at least buy more materials to feed existing Filipino-owned factories around western and central Pacific,” FFC president Francisco Tiu Laurel said at the first virtual India-Philippines Marine Fisheries & Aquatic Business Conference (IPM-ABC) held recently.
Philippine tuna companies, aside from owning fishing fleets, operate canning facilities overseas such as in Papua New Guinea, Vietnam, and Indonesia. About 86% of the fish are canned in pouch, with the rest in tuna loins.
“In the 1960s, boats were a lot smaller than they are now. Now we compete with the world’s best with purse seine large fishing vessels,” Laurel said at the IPM-ABC co-organized by the Philippine Chamber of Agriculture and Food (PCAFI).
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