Fish farm lures $8m float
21 June 2007AUSTRALIA - From December every year, brave fishers in small boats tackle the rip at Port Phillip Bay hoping to snag some fighting green rockets called yellowtail kingfish.
If they want to be more certain about landing the fish, they could swap their squid bait for some shares in Western Kingfish.
The company launched its $8 million float yesterday and wants to quickly fill its ten sea pens at Jurien Bay with the fast-growing fish.
Situated about 200km north of Perth, managing director Stewart Graham said the water temperature and conditions should be perfect for raising the fish.
"They get to 4kg within twelve to 15 months so it is an ideal fish," said Stewart. "It is not rocket science, (but) yellowtail kingfish are already being farmed successfully in Japan and South Australia so we are confident."
Stewart said the global market for kingfish and similar species was growing quickly as a substitute for diminishing wild stocks of tuna.
The texture of the fish is firm and flaky, is high in omega 3 fatty oils and has high levels of fillet recovery for sashimi (67 per cent) and boneless fillets (44 per cent).
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Source: Herald Sun
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