Itochu to Sell Land-Farmed Salmon in Japan

Economy

Tokyo, July 31 (Jiji Press)--Major trading house Itochu Corp. <8001> said Wednesday it will sell land-farmed salmon in Japan in cooperation with a company affiliated with a private equity fund in Singapore.

Atlantic salmon will be farmed at an onshore plant to be built in Tsu, Mie Prefecture, central Japan, by Soul of Japan K.K., a Tokyo-based unit of Pure Salmon Pte., a salmon farming company under the wing of the fund.

Construction of the plant is set to begin in 2020, with salmon shipments seen starting in 2023. Annual output is projected at 10,000 tons.

In Japan, Atlantic salmon is popular, including for sushi, but most of the fish are imported, chiefly from Norway and Chile. Itochu decided on the tie-up as it sees demand for domestically produced Atlantic salmon.

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