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Clean Seas sues former feed supplier

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South Australian aquaculture company Clean Seas Tuna is suing a former supplier for economic losses it says were caused by feed which was allegedly deficient in a key nutrient.

Clean Seas told the stock exchange this morning that it had served proceedings in the Supreme Court of South Australia against a former feed supplier, Gibson’s Limited (trading at Skretting Australia).

In a statement, Clean Seas CEO Craig Foster said that the company’s proceedings assert that the feed supplied by Gibson’s Limited contained insufficient taurine – an essential dietary requirement for Yellowtail Kingfish and a range of other fish species.

Foster said the company believed the deficiency led to mortalities and poor growth in its Yellowtail Kingfish stocks.

“The company claims that it sustained substantial trading losses as a consequence,” Foster said.

“The company’s solicitors have engaged independent forensic expert accountants to produce a report quantifying the company’s losses attributable to this claim.”

The claims against Gibson’s are limited to feed supplied during the 2009 to 2012 financial years.

In its statement, the company said that after it began supplementing Kingfish feed with taurine from July 2012, “the health of the company’s stocks materially improved, and fish survival rates and growth has since then exceeded all previous benchmarks”.

InDaily has contacted Skretting Australia for comment.

Clean Seas is the only Australian commercial producer of farmed Yellowtail Kingfish, a species which is valued for use in sashimi and on restaurant menus as a cooked table fish.

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