FROM a small niche business market has grown a huge success story in the MIA.
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Murray Cod Australia’s (MCA) business in the MIA is continuing to expand with recent news of another big investment in the operations.
The company has welcomed AustralianSuper as a cornerstone investor in the placement for a total investment of $2.3 million.
According to MCA, it will allow for continued expansion, with a huge eye now on the overseas market.
MCA is listed on the Australian Stock Exchange and chairman Ross Anderson was thrilled word was getting out about the unique company.
The funds raised as a result of the investment will be applied to the company’s ongoing production expansion, including new grow-out infrastructure, as well as product marketing and a re-branding strategy designed to drive growth in fish sales.
Murray Cod continues to investigate high-growth export market opportunities.
“The fish being grown and bred in the MIA is a real luxury product,” Mr Anderson said.
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“It’s wanted by the top restaurants in places like Sydney. It’s a real niche market that’s growing all of the time.
“To have AustralianSuper come on board really shows how far we’ve come and for a company like that to invest is great. They themselves have over two million members, so it’s a great show of support.”
MCA has developed a land-based aquaculture model, using dams and irrigation water, which allows it to control the breeding, feeding, water conditions and biological inputs throughout the entire life-cycle of the fish.
“Our model here in the MIA and Riverina region is working well … it’s given farmers another option and it’s providing a quality product,” Mr Anderson said.
“We’re starting to receive more and more overseas interest also.
“This product is a luxury and much more expensive than ‘barra’ or salmon.”