One could argue a bias, but Richard Manning is very qualified to talk about the quality of his abalone. The fishing industry leader, of Ngai Tahu descent, believes his company’s ready-to-eat Paua might just be one of the world’s best tasting… and China is waiting.
Richard explains that while it may be a delicacy domestically, export markets aren’t big fans of the ‘pigment of our paua’ and that’s something he’s worked hard to address with his new product branded FISHi8.
“It’s an innovation in that it’s semi-dried to reduce the water content and pigmentation, the result is a natural product with no additives and enhanced flavour. It’s also more stable to cook with in that the colour doesn’t leech into other food.”
FISHi8 comes ready to eat in high barrier performance packaging with a FernMark Licence logo to proudly showcase its country of origin.
According to FutureBrand, publishers of the Country Brand Index, country of origin is becoming increasingly important for consumers when making purchasing decision.
Richard agrees, “Demonstrating our provenance is very important especially for the China market. The FernMark lends credibility and authenticity; it also helps speak to the premium nature of the product”.
Richard is currently exporting into Hong Kong and Singapore but sees the biggest market opportunity for FISHi8 in China, where high quality abalone is considered a ‘status item’.
“We’ve spent the last four months testing taste profiles in China and the product has been very positively received, we are now in the final stages of fulfilling export compliance requirements.”
Richard owns a small quantity of paua quota, he says paua that is not commercially farmed is bigger, and this combined with the strength of New Zealand’s sustainable fishing story, gives his product more of a high value premium. Until now, New Zealand Paua has traditionally been bleached and exported in tinned form.
“The intent with FISHi8 has been to create something new that can regain value from a consumer perspective – there is huge potential in China with respect to this.”
“Discerning customers understand when you have a good product, but because this product is new we have to create the demand to create the value.”
Richard is already working with a Singapore based celebrity chef but he’s starting at home as a pathway to get cut through in China.
“The rationale is that we need domestic awareness as much as going direct to market. That means making FISHi8 a high value take home item for Chinese visitors and also something that New Zealand based Chinese appreciate and talk about on social media.”