US Fisheries opens tilapia retail outlet

The US Group of Companies is capitalising on the growing consumer demand for tilapia to sell directly to the consumer.

The group’s subsidiary, US Fisheries Limited, produces tonnes of tilapia using the cage culture on the Volta River, and then supplies to middlemen who in turn sell to the final consumer.

The Executive Chairman of the US Group of Companies, Chief Godfred Medicine, told the media that the company had changed its marketing strategy to sell directly to the market because middlemen were denying consumers of affordable produce which was the intention of the company.

“Our intention and initial business plan is to make fresh, hygienic and mature tilapia available to customers in West Africa at very affordable prices. This is because we do not believe that tilapia, although an exotic fish stock, should not be as expensive as it has become in our country lately,” Chief Medicine said when the company inaugurated an ultra-modern retail depot at Tema Community Two.

The outlet would serve retail customers as well as bulk buyers. It would also serve tilapia cuisines to the public.

He said even though he was not attempting to collapse the distribution chain, the intervention by US Tilapia to sell directly to the market would pose a form of competition which would compel reduction in the general price level of tilapia in the country.

The executive chairman of the US Group added that the company also wanted to change its marketing strategy to plough in more returns for the company’s investors.

Chief Medicine appealed to the partners who have put money in the tilapia business to be patient, although their payments were due, as the company had adopted measures to ensure higher returns to pay back their investments.

The US Group invests in its tilapia business in partnership with investors who will be given part of the returns.

Company officials said directly marketing the produce – currently being harvested after a year of breeding – to the consumer, had proven to yield  more returns, since its retains the margins that otherwise would have gone to distributors and middlemen.

Mr Medicine said his company would, therefore, open retail outlets in various vantage points across the country to ensure that people got easy access to the produce.

The company recently inaugurated its multipurpose facility at Dome Pillar 2. It houses a restaurant where consumers can point at live tilapia in a pond which would be caught immediately and prepared fresh for customers.

Inaugurated about three months ago, the restaurant has caught on well with customers who throng the place daily for their fresh catch.

Daily Graphic/Ghana