Blue Star Foods Corp. announced on October 10, 2024, that its subsidiary, Taste of BC Aquafarms, executed a significant fingerling supply agreement with Miracle Springs. This partnership is designed to accelerate harvest growth and meet increasing market demand for steelhead salmon.
Under the agreement, Miracle Springs will supply 1,250 kilograms of fish, consisting of 750 kg of 100-200 gram fingerlings and 10,000 50 gram fingerlings, which is expected to save between 2 to 5 months in the growth cycle per lot. Additionally, Miracle Springs will continue to supply 10,000 to 20,000 fingerlings during the first and second quarters of 2025, and 20,000 50-gram fingerlings every two months starting in the third quarter of 2025.
This contract, valued at approximately CAD$200,000, is projected to increase Taste of BC’s production capability up to 200 Tons HOG Steelhead salmon in 2025 and 2026. This boost equates to an impressive CAD$2.315 million in projected revenues at current selling prices, driven by demand for sushi-grade fish. The company is also upgrading farm systems to support additional biomass, targeting a 40% reduction in liquid oxygen costs.
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