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NaturalShrimp inks deal with seafood distributor

It’s no shrimp of a deal. Aquaculture company NaturalShrimp, has signed an agreement with Gulf Seafood Inc. (GSI) to provide the Florida-based food distributor 25,000 pounds of live shrimp.

“We will be selling various sizes of shrimp to GSI at a price of $10.50 per pound,” said William Delgado, chief financial officer of NaturalShrimp. “This agreement in place, we are projecting sales for the December 2021 quarter of between $300,000 to $500,000.”

NaturalShrimp is known for developing and patenting the first shrimp-focused recirculating aquaculture system (RAS). GSI specializes in production, packaging, distributing, and marketing live, wild caught shrimp to the United States market.

Under the terms of the agreement, upon successful demonstration of the trial agreement, GSI will potentially commit to a long-term distribution agreement for 2022 production of live shrimp, according to a press release from NaturalShrimp.

“This agreement is a major milestone in the commercialization of our land-based gourmet-grade shrimp and the commencement of weekly production at our shrimp facilities,” said Gerald Easterling, CEO of NaturalShrimp.

The company also reported that it expects it La Coste RAS facility to return to full production capacity soon.

The facility in Texas was gutted by a fire in March last year. Three months later, NaturalShrimp announced plans to expand the plant’s operations.

“We expect that sales for this quarter will come from the La Coste facility also,” the company said, “…we expect ramping up full production of 3,000 pounds per week by the end of the first quarter 2022. Also, the company is expecting to break ground on an 80,000 square foot expansion in La Coste within the next 60 days.”