Japanese trading giant Mitsui & Co. has announced a significant investment of US$360 million in Industrial Pesquera Santa Priscila (IPSP), the world’s largest shrimp farming company based in Ecuador.
Mitsui, known for its core business in commodity and energy trading, is acquiring shares from the founders of IPSP, marking a substantial financial commitment to the booming shrimp industry. Following the transaction, IPSP will become an equity method affiliate of Mitsui, although the specific size of the stake has not been disclosed.
Mitsui already holds a notable 35.1% stake in Minh Phu Seafood, the world’s largest shrimp processing company located in Vietnam. The decision to invest in IPSP aligns with Mitsui’s strategic vision of expanding its influence in the shrimp industry, encompassing various facets of the value chain, including breeding, feed, and farming.
The move is driven by Mitsui’s anticipation of an increasing global demand for shrimp as a protein source, attributed to both the rising global population and the growing popularity of low-calorie food options. The company aims to solidify its position as a leading global player in the shrimp industry by strategically extending its reach upstream in the value chain.
This investment reflects Mitsui’s forward-looking approach, recognizing the long-term potential and sustainability of the shrimp market amid evolving consumer preferences and global demographic trends.
