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Pescados Ruben, a €55 million-revenue fish trader from the Spanish region of Galicia, confirmed it had closed its first sales contracts for frozen pre-cooked tuna-based products, after less than a month of launching.

The company, which trades pelagics and tunids for wholesale clients, had seen revenue somehow stall last year after almost reaching the €60m figure in 2012, with operating earnings of €1.6m and profits just under €0.5m.

But exports and imports manager Conchi Blanco told Undercurrent News the decision to open a new product line was the result of foreign customers’ demands.

“Our clients in Europe repeatedly asked us for processed seafood prepared to become part of ready meals, so this new production will go to hotels, restaurants and supermarket chains,” said Blanco.

Initially using tuna as the main ingredient, Ruben now sells nuggets, fingers, specially shaped breaded bits for children’s consumption, tuna loins, all frozen and destined to foreign markets.

Ruben has chosen to outsource this production to a third party in Spain, too, although Blanco declined to name the partner. Ruben is, nevertheless, investing €1m in the renovation of facilities and machinery at its factories in Lugo, Galicia.

Frozen fish currently represents 30% of Ruben’s total revenue, the rest being fresh fish for the Spanish market and eventually north of Portugal — when it isn’t completely distributed in Spain. Last year, the business traded 18,000 metric tons of frozen products and 11,000t of fresh fish.

It exported 25% of its output in 2013, up from 15% in the previous year, and further expansion is expected in emerging countries like Brazil.

“At this point, Brazil is where we are ready to sell as soon as we get the okay from the administration. We have ensured already that we comply with all the requirements. It is a matter of getting the final seal, so to speak,” Blanco said.

She added that consumer prices in Spain were still going down under the stress of the economic crisis — something also other Spanish companies have recently told Undercurrent –, which is leading companies to search for opportunities outside their domestic market.

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