Genetically modified salmon firm AquaBounty has found “very enthusiastic” buyers in Canada, according to president and CEO Ronald Stotish.
The first sale of the Maynard, Massachusetts, U.S.A.-based firm’s AquAdvantage salmon was made last June, when unnamed buyers in Canada bought five metric tons at the going rate of traditional farmed Atlantic salmon, according to the company. Since then, AquaBounty has sold 10 additional metric tons of its AquAdvantage salmon to buyers in Canada
Meanwhile, Stotish revealed that AquAdvantage will be sold in the U.S. through established distributors.
“Once [AquaBounty salmon] is established in the market, the option for branding as a ‘sustainably produced’ food item can be considered,” he told investors.
Since only three percent of Atlantic salmon is produced in the U.S., and 300,000 metric tons of the fish were imported in 2017, the total U.S. market opportunity is USD 3.1 billion (EUR 2.7 billion), Stotish said.
In addition to the U.S. and Canada, AquaBounty is focusing on several international markets, he added. The supplier has submitted an application to run a field trial in China, and it is conducting a field trial to support its application for approval in Brazil.
Read full, original article: Canadian buyers “enthusiastic” about GMO salmon