1 October 2014
Spire speaks at Indonesia Ocean Investment Summit 2014 on aquaculture opportunities
Indonesia is the world’s ninth largest aquaculture producer. What business prospects lie in Indonesia’s aqua farming industry? Spire Research and Consulting was honored to be a speaker at the Indonesia Ocean Investment Summit 2014 in Jakarta, on behalf of the Norwegian Embassy. The event aimed at exploring sustainable fishery and maritime industrial development opportunities in Indonesia.
At the event, Erwin Widjaja, Director, Indonesia of Spire Research and Consulting, spoke about aqua farming and the untapped opportunities in this industry. Fisheries activities need to be developed in order to provide national food security and reduce poverty. He shared that Indonesia’s fisheries extend to an impressive 5.8 million km – three-quarters of the entire national territory.
Widjaja commented that opportunities in aqua farming are abundant. Indonesia is at an advantage because 76% of its surface area is under the Equatorial Ocean. There is an increasing demand for high-value fish species such as snapper, grouper, barramundi and pompano.
He pointed out, however, that the production value chain was still facing difficulties due to an under-developed infrastructure for logistics. Moreover, most local industry players still tend to avoid usage of vaccines – regarded as an industry best practice – because meeting safety regulations can be quite cumbersome or farmers are simply unaware of the benefits.
Widjaja shared that uncoordinated and illegal fishing practices need to be stopped to defend the sustainability of maritime sector. Such practices threaten to hurt the livelihoods of marine and coastal communities as well as threaten fish value – the ultimate food security.
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Spire Research and Consulting is the leading research consultancy in global emerging markets. Spire's competitive advantage lies in its ability to deliver actionable intelligence on the external business environment in support of its clients’ strategic decision-making in marketing and business development. Spire's clients include 50 Global Fortune 1000 companies and government agencies in 15 countries. For more information, please visit www.spireresearch.com.