Building high value supply chains, Australian prawns’ new role in the global market
A group of disparate Australian prawn farmers who lacked product understanding and marketplace power were being routed on the world stage. Single companies with production exceeding 70,000 MT p.a. dwarfed the 2,000 MT p.a. of the entire Australian prawn aquaculture industry. Australian farmers lacked quality standards, planned production, and a clear value proposition that would open up alternate markets to make them more competitive against companies whose innovation is driven by their lower raw material and labour costs. The industry needed to make their measurably higher-quality, but less standardly productive, harvest into a more marketable asset. Greenleaf found that a number of independent farms sold their harvest into the single domestic wholesale market. These farmers were receiving a premium over lesser quality imported product, but the price and fragile negotiation process failed to reflect the product’s full value from a global perspective. Greenleaf aligned the right markets to maximise the consumer value inherent in their product, and developed the Island Fresh Aquaculture value chain. As a result, the industry saw an increased sales value of an incredible170%.