Spain: The great Galician fishing industry is more global than ever, it operates in 30 countries and exceeds 220 boats

Seafood

Spain

Market & Price Trends

Innovation & Technology

Published Feb 19, 2024

Tridge summary

Spanish fishing companies have managed to establish a significant global presence, with the top 20 firms owning stakes in over 220 fishing vessels worldwide. This is attributed to their investment in verticalizing processes and maximizing raw material value. Companies have expanded into various countries, including the US, Paraguay, Vietnam, and Ghana, helping to offset the impact of Pescanova SA's collapse. Additionally, these firms have grown their presence in the aquaculture sector, particularly in the octopus segment in Morocco and South Africa, and have entered new markets, thereby increasing their installed capacity.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

With two of the largest groups in the Spanish fishing industry in pre-bankruptcy – Fandicosta and Atunlo – and with severe difficulties in the sector as a whole to weather the sluggish sales, this may seem like an oxymoron. Like the fact that, on a night of complete silence, dropping a fork in the corner of an industrial warehouse produces the sensation of a thunderous noise. But neither that fork makes such a fuss nor do the frozen fishing companies survive thanks to a bypass. The apparent oxymoron, then? Companies have difficulties, yes, but they have never achieved such a large global presence at origin, both in industrial and logistical capacity as well as in extractive capacity (ships and farms). The top 20 large companies in this sector already have a stake in more than 220 fishing vessels in all the fishing grounds of the world, with a direct presence (not just commercial) in thirty countries. It is a colossal and historic footprint, the result of the investment commitment ...

Source: Lne