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Despite the best efforts of the Fed, inflation in the U.S. in August remained at multi-decade highs.
The world economy at large is struggling with high inflation; figures for the second quarter were of concern, with rising inflation reflected in the prices of key commodities in the G7.
Right behind gas and fuels’ massive spike (and the associated inflation for travel), costs for food rose 11.7%. These prices disproportionately affect the poorest and most disadvantaged, who spend the largest portion of their income on food.
Rising costs are a problem for major food sources, especially protein. While meat is still the most popular source of protein, fish is an important source of protein for much of the world – over 3 billion people worldwide depend on fish as an important source of animal protein. This reliance on fish is higher in high-income countries.
Amid rising prices, Nocera Inc.
is a Taiwanese company that seeks to provide access to affordable, sustainably farmed fish. Nocera is an integrated, fish farm-production company that promotes sustainable farming through its recirculation aquaculture system (RAS). It believes that its systems are the solution to providing people with locally sourced, sustainable fish amid the global food crisis.
Fishing Industry Affects
Though demand for fish has been rising faster than the global population, the major disruptions from COVID-19 caused capture fisheries and aquaculture to see their worst year in 2020. This accompanies criticisms against some companies of overfishing and threatening wildlife fish sources. Questions of sustainability are inspiring companies like Atlantic Sapphire ASA
and Blue Star Foods Corp.
to look for eco-friendly solutions, compared to competitors such as Aquabounty Technologies Inc.
, which has used genetic modification to pursue sustainable fishing.
Nocera uses the RAS model because it provides a sustainable way of land farming fish without draining ocean reserves. Its tanks – which the company engineers, manufactures, and constructs – are easily put together on-site and can be relocated for a second use. Nocera also claims its RAS tanks are affordable, both because of their inexpensive installation costs and their cost-effectiveness. The tanks can raise 22,000 pounds of fish a year and recirculate 90% of the water – reducing pollution and recycling fish waste.
Nocera says its RAS system is great for farming more affordable options like tilapia or catfish, although it’s also suitable for many types of fresh or seawater fish.
The inexpensive nature of these tanks creates an opportunity for farmers. As fish imports to America decrease, Nocera’s RAS tanks give farmers the ability to farm and feed people locally. Alongside its aquaculture products, Nocera is also involved in the food-packaging industry and is seeking a comprehensive solution to get food from the farm to the table.
As part of its food distribution push, Nocera entered into an agreement to acquire a controlling interest in iTake Inc., a move that will expand its ability to get seafood straight to customers. iTake is an artificial intelligence of things (AIoT) company using new technology to roll out unmanned stores through an internet shopping platform. Nocera’s CEO Jeff Cheng said that the acquisition gives Nocera “an AIoT way to sell and deliver our seafood and other food products to our customers through iTake's Smart Cabinets.”
iTake will join another acquisition by Nocera, Meixin Institutional Food Development Co. Ltd., which is producing bento boxes in an effort to tackle the rising price of food. Nocera will bring bento boxes to the U.S. in 2023 as part of the company’s international expansion.
Learn more about Nocera Inc. by visiting its website.
Featured photo by Sebastian Pena Lambarri on Unsplash
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