Marine Growers, a subsidiary of Premier Fishing, owns a abalone farm that produces cultivated abalone (locally known as perlemoen) for the export market. The farm is based in Gansbaai in the Western Cape. South African abalone (Haliotis Midae), is highly sought after internationally, particularly in the Far East, where it competes favourably against Japanese abalone for space on diners’ plates. As a result of this international demand, abalone is one of the most expensive seafood types on the market.
The demand for this product has led to aggressive poaching of abalone in our local waters, to the extent that the natural wild abalone stock has been depleted and may shortly be listed by the Conventional on International Trades in Endangered Species (CITES). The abalone farm ensures the sustainability of the species and makes a contribution to international trade, while also representing a viable and highly profitable investment opportunity. Our objective is to optimise operations so that our pipeline size and growth rates are maximised. This will enable us to reach the targeted abalone size class in the shortest period of time.