Latvian canned fish manufacturer and producer Riga Gold hopes that the quality of various canned fish products will give an advantage in Asia.
Igors Pužs, Riga Gold’s chief export representative, told SeafoodSource during the Seafood Asia Expo, which took place from September 14 to 16 at the Suntec Singapore Convention and Exhibition Center, that the unique packaging used by the company is part of its business strategy. The purpose of the packaging, he said, is to solve a dilemma: how to prove the quality of a canned product.
“Our company has always wanted to be different from others, and we have always believed that our quality is much different and much higher than our competitors,” said Puzz. “That’s why we looked for solutions to sell things at a higher price. How to show consumers that we are better.”
Generally, a canned product does not allow consumers to see what they are buying before they buy it, The cat said.
“The sealed can with the steel lid—no one knows what’s inside,” Bose said.
Riga Gold has now produced a canned product with a transparent lid, which allows consumers to see for themselves the quality of the products.
“You can see the quality of the products,” said Puzz.
Some of its products, such as canned sardines, are already listed at Walmart in the US and grocery chains in Australia, according to Bose.
However, the company’s search for new markets has been put on hold due to Covid-19, resulting in the suspension of in-person events such as Seafood Expo Asia.
“It’s a challenge for us to find a new customer because before we couldn’t offer and we couldn’t introduce,” said Puss.
But now that it has happened again, Riga Gold hopes that its new packaging will give it an advantage in attracting new customers.
Another factor affecting the company’s efforts to break into new markets is the ongoing war between Russia and Ukraine. Before the conflict, Latvia obtained most of its energy from Russia, but as a result of the strengthening of sanctions inWhere costs are expected to be around 11 times higher and electricity will cost up to six times. It’s energy costs and more Bose said the supply crisis has forced Riga Gold to adjust prices.
“We have already raised prices five times this year,” Puz said. “With each new month, a new resource adds something, and you try to be at your disposal, but you also realize that you can’t do it for an unknown amount of time.”
The cost increase is part of the reason the company is hoping to get a premium for its products, as Puz said a compromise on quality is out of the question.
“We don’t want to lower the quality or dilute the oil with water or produce it with other fish,” he said.
Photo: Chris Chase / SeafoodSource