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THE important Canadian Clearwater Seafoods Company has a new chief executive and it is clear that he will look East for market growth.
Ian Smith has over 21 years experience in the food industry including senior positions with the United States Campbell Soup Company.
He has described his new berth as an innovative Canadian Seafood Company and a world leader in sustainable harvesting practices and with a reputation for the highest quality shellfish."
Mr Smith, who takes over from Colin McDonald, also made it clear that he wants to sell more seafood in China because it has a growing middle class with a great deal of money to spend. New Zealand, Norway and Iceland are among the major fish producing countries courting China at the moment and Canada seems set to join them.
Ian Smith said rising incomes for him that Chinese citizens will want seafood as a lean source of protein.
Speaking after his appointment in Halifax Nova Scotia, he added: "The first thing that happens when incomes rises is that people will improve their diets."
Clearwater is already selling into China, but he says he was more effort in this direction."There are other countries that are ripe, but I think they would pale in comparison to the size of the opportunity for mainland China.
"Asians are huge seafood eaters and we have already seen strong growth in that market and we're going to be able to continue to see it develop," said Smith, who worked in China for the Campbell Soup Company.
Meanwhile, the strong Canadian dollar is continuing to pose problems for the country's seafood producers.Clearwater has just announced a first-quarter loss last week after currency problems cost the company almost $9-million. The company also has long term debts of around $200 million which is one reason why Ian Smith is looking to Asia for income growth. The company's main products are scallops, lobster, crabs and some white fish.
Should fisheries be closed during breeding time to allow stocks to reach more sustainable levels?
