SFA approves 16 insect species for food; companies gear up to offer new dishes and products

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(Reuters) - Shares in Delivery Hero slump 16% to their lowest levels since February, after the German online food takeaway firm said it may face a fine exceeding 400 million euros ($433 million) due to antitrust violations.

House of Seafood's sushi topped with juicy silkworms and crispy crickets and their salted egg crab dish with superworms. - PHOTOS: HOUSE OF SEAFOOD via The Straits Times/ANNThe Singapore Food Agency said on July 8 that it has approved some 16 species of insects for consumption, much to the delight of industry players who have been gearing up for this long-awaited moment.House of Seafood restaurant’s chief executive Francis Ng is cooking up a menu of 30 insect-infused dishes.

Having already secured a licence to import these insects to Singapore, Mr Yip is working with farms in China, Thailand and Vietnam to supply these bugs to the local market. Francis Ng, chief executive of the House of Seafood restaurant, with a variety of bugs. - PHOTO: HOUSE OF SEAFOOD via The Straits Times/ANN

Already, at least two industry players – Singapore-based Future Proteins Solutions and Asia Insect Farm Solutions – decided to call it quits, as the long wait had thrown their business viability into question. “During our workshops, we target mostly young people who may be more adventurous when it comes to trying insects, and we educate them on the benefits of insects as a more sustainable protein source,” he said.

To further move the needle in research and development, Altimate Nutrition has partnered with its supplier, Thai insect farm Global Bugs, to form a joint venture known as ProteinInnovation. The crickets will be bred, using automation in little “boxes”, to alleviate manpower costs, and being modular, these can easily be scaled up, she added.Mr Aaron Chen, the chief executive of Werms, which currently sells insects such as crickets and mealworms as pet food, is waiting to see if there is any consumer demand for his insects, before deciding to offer them for human consumption.

Its products include a pure silkworm powder – which can be used as a food ingredient – along with matcha powder, protein powder and protein bars, which boast high protein and amino acid content, along with other key nutrients such as vitamins, fibre and minerals.

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