ABC last night, showed the QLD prawn industry decimated by an imported Green Prawn virus infection.
Estimated future losses of over $500 million dollars on the East Coast, and the closing and failure of prawn businesses.
Prawn stocks for sale on the East Coast are declining rapidly (according to the report).
No foreign prawn imports are permitted - new government regulations.
A government ban in place.
You can guess what this has done to the price of prawns.
The value of Western Australian prawn companies like Mareterram is increasing.
Mareterram is in a perfect position to step into the breach and expand it's prawn sales from it's Western Australian prawn fishing grounds, selling more into the Eastern States.
Mareterram has a sales force of 10, so I hope they are on to this.
This should become a real bonus for Mareterram, and a time of great productivity and profit.
Good news for MTM.
Gw
MTM Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)