Fisheries & Aquaculture: Outlook and Investment Opportunities
Belize's natural resources and strategic location provide diverse opportunities for investors seeking to capitalize on investments focused on quality and sustainability. Belize offers an ideal marine environment that has bolstered continued growth and diversification in the fisheries and aquaculture industry. Being located only 2 hours away by plane from the US and other key Central American and Caribbean markets has enabled the industry to supply fresh products on a weekly basis. This continues to provide many benefits to the industry's continued development, allowing Fisheries an income earnings contribution of up to 1.2% of Belize's Gross Domestic Product (GDP) in 2017. Currently, the Fisheries and Aquaculture industry employs 1% of the labour force in Belize, totaling approximately 1,581 individuals with a multitude of indirect employment opportunities (Statistical Institute of Belize, 2018). Presently, capture fisheries species include Spiny Lobster, Queen Conch, Sea Cucumber and Finfish; while culture species include Pacific White Shrimp, Nile Tilapia, Cobia (Mari-culture) and emerging opportunities in seaweed farming.
The World's Most Ethical and Sustainable Shrimp Comes from Belize
Inter-American Development Bank (IDB)
The Belize Shrimp Growers Association - an organization that includes the majority of shrimp farms in the country - had the vision of becoming an industry leader and producing the best shrimp in the world. To achieve this goal, they requested technical support from Compete Caribbean, a program that supports private sector development and innovation in the Caribbean, operating with funding from the Inter-American Development Bank, the UK Department for International Development, the Caribbean Development Bank and the Government of Canada. The initial objective was to certify six of the 10 existing farms with the ASC; however, they were much more effective and
by 2015, 90% of the country's shrimp farms had been certified, making Belize the first country in the world where almost all shrimp produced is socially and environmentally sourced.
Success Story: Quality Shrimp Belize Limited
Quality Shrimp Belize Limited (QSBL)
is located along the banks of the New River at the Estrella Village in the Corozal District. In 2017, the Company commenced construction of the Hatchery, Central Lab, Production Ponds, and a Processing Plant.
QSBL's Hatchery produces Vannamei PLs for use in the production ponds and other shrimp farms with interest in this line of Larvae. The Company has the capacity to produce ten (10) million PLs/month. The Production site of the farm facility consists of a nursery and ten (10) concrete ponds (1/2 acre each) stocked at Intensive Densities where shrimps are grown to the sizes requested by clients. The Central Lab tests Water Chemistry, Microbiology (in both water and shrimp) and Polymerase Chain Reaction (PCR). To date the Company employs over forty-four (44) employees both indirect and direct jobs. QSBL has invested $3 million USD and expects to further invest in upcoming expansionary plans.
TESTIMONIAL FROM THE DEVELOPER
"The Designated Processing Areas (DPA) program is the foundation of Quality Shrimp Belize Limited. We must say this since this program has made it possible for us to incorporate the use of technology in the North on a wide scope. As many may know, Corozal is known for the hardness in the water; however, it has become possible and a milestone for the country of Belize to have a successful shrimp farm in the District of Corozal which cultivates, nurseries and harvests shrimp. Not just that, but it has also made it possible for us to provide jobs to 'Corozaleños' during the construction phase, due to the duty-free tax incentives. We take full advantage of the opportunity to trade (buy and sell) with local and foreign entrepreneurs which increases our foreign exchange. Lastly, the DPA has given us the privilege to build strong relationships, meet new and wonderful people and gain goodwill both locally and abroad".
Project Opportunity: Cardelli Farms Limited
Cardelli Farms Limited
Location: Savannah Area, Independence, Stann Creek, Belize
Cardelli Farms Ltd. is a shrimp farm located outside of Independence Village in the Stann Creek District of Belize in Central America. The farm is wholly owned by Linda Cardelli Thornton, a business woman who has lived and worked in Belize since 1984. Cardelli Farms Ltd. operates under the special incentive program known as the Designated Processing Areas (DPA) status, which allows duty free inputs and tax free status for up to 10 years. The farm was built in 2006 with four-25 acre ponds (25 acres = 19 football fields) and has been operated with a low density, no-water exchange culture to produce 16-20 and 21-25 size shrimp for the local and export market. It was later expanded to six-25 acre ponds and ran profitably with an ROI of 65% before principal and interest payments.
Cardelli Farms Ltd. is offering up to 60% equity for purchase to raise capital needed to convert the existing farm to ponds that can remove the waste feed, molted shells and dead shrimp. Cardelli Farms is valued at $5,000,000 USD. Ms. Cardelli is to retain a 40% share of equity, valued at $2,000,000 USD in exchange for the land with ponds, 350 acres, the established infrastructure and farm equipment, (pumps, tractors, employee homes, kitchen, tools, harvest equipment, aerators and auto-feeders.) The aforementioned 60% will be offered for $3,000,000 USD with minimum investments of $100,000 USD per person/entity. Ms. Cardelli will remain as Managing Director of Cardelli Farms to oversee all day-to-day activities of the farm.
Capital Investment Secured to Date:
Capital Investment Required: USD $3,000,000
Total Estimated Capital Investment Size:
Estimated Return on Investment: 30% for Phase 1
Preferred Mode of Investment: Joint Venture Partnership