SAIL must opt for different strategy

2019 was not a good year for Suriname American Industries Limited (SAIL) because less shrimp was processed than the previous year. In 2018 production was at about 1.2 million tons of shrimp while this figure dropped to below 800,000 in 2019.

The drastic drop is the result of the fact that the fishing boats did not catch that much Seabob shrimp. “That was the result of external factors namely nature”, said SAIL director Paul Lank who added that the dwindling catch also has an impact on other sources of income that are directly linked to the shrimp sector. “You can understand that if one catches less, it also affects the sale of ice because the trawlers are our biggest clients. That also means that are ice unit operated at minimum capacity. That also has an impact”, said Lank who explained that that to some innovative measures the company ended the year on a good note. The company also started processing fish instead of shrimp only. This proved to be a profitable decision for the commercial activities of SAIL. Three years ago fish processing was at 15 tons but in 2019 this rose to 90 tons. “So we managed to compensate things a little by spreading the risks.” In orde to adapt to the new situation in the shrimp sector and remain afloat, the company will have to take more steps out of its comfort zone. The company will focus more of its attention and resources on the processing of fish. It will also have to lay the foundation for selling its end product. Lank deemed it scandalous that SAIL has never switched to the production of end products in its 60 year existence. The company also plans on processing fish and shrimp waste into fertilizer and other popular products. Research indicates that nine base materials can be extracted for the production of fertilizer parfume and fish oil. “Almost all the waste is currently being dumped in the river and it is in fact money that is being thrown away. We import a lot of fertilizer. Maybe this could be of use to the rice industry.”