Agree, I think that has been a slight pullback in the language...

Agree, I think that has been a slight pullback in the language around what they are saying. I don't think it is a massive strategic shift. They have land / ponds to produce up to around 7,000t (still refining and improving their operations, so will be less this year). They have plans for 10,000t for domestic consumption. And potentially could produce 20,000t if the market conditions are right.

I think those market conditions are both domestic and export orientated. If they can produce all year round and drive demand domestically, I reckon they could push that 10,000t higher. The market conditions for exporting requires high prices in high value markets (think: Singapore, Taiwan, Hong Kong, Japan, S. Korea, etc). They will not be able to compete on price with the shrimps coming out of Vietnam, Bangladesh or Thailand - that's a given. So it's whether they can get a premium for the quality of the product they are producing. That remains untested. But remember, Sea Farms Group ($SFG.AX) was 100% dependent on an export market for these same prawns, so presumably the serviceable addressable market for high quality "King Prawns" or "Black Tiger Prawns" is there.

My guess there is no real change, but the language has shifted because they have learned from Covid-19 and China-Trade-War that sometimes the international markets disappear.

Meanwhile I am finishing up a study tour on Australia's cutting edge aquaculture science. Totally fascinating what they are working on. From Yellowtail Kingfish, to zero-fish-input aqua feed, to nano-bubble oxygenation tech, to closed loop systems with a 'byproduct' of nitragen fertilizers for greenhouses, etc. I won't go through it all now, but next big things I am looking at and reckon will be on the Tassal hitlist: Seaweed (we already know), yellowtail Kingfish in NSW or WA (not Barramundi as I previously thought, and not Kingfish in SA like CSS); sea cucumbers / sandfish; and molluscs that aren't oysters (clams, green mussel, etc).