Bakkafrost Scotland improvement continued during second quarter

Bakkafrost Scotland produced an increased harvest during the second quarter of this year, a trading update from the company shows.

But Bakkafrost’s output from the Faroe Islands during the period was considerably lower, says the company.

In Q2 (April-June) Farming Scotland produced 7,300 tonnes against 6,600 tonnes in Q2 of last year which is in line with improving biological conditions at the Scottish operation.

The total is made up of 4,000 tonnes from Scotland south and 3,300 tonnes from Scotland North.

The Faroese total of 8,700 tonnes (against 13,100 tonnes for Q2 last year) is made up as follows: Farming West 5,100 tonnes; Farming South 1,900 tonnes; and Farming North 1,300 tonnes.

All harvest volumes are provided as head-on gutted (HOG) equivalents.

Bakkafrost said that feed sales in Q2 2023 were 30,200 tonnes. Havsbrún, the group’s feed subsidiary, sourced 147,900 tonnes of raw materials during Q2.

Shareholders were told at a capital markets day last month that survivability and harvest weights in Scotland were improving significantly thanks to various company measures. Gill health had been the main problem last year.

But there had also been issues with PD (Pancreas Disease) and CMS (Cardiomyopathy Syndrome). Reported gill health issues were now 45% lower than the industry average while lice counts remained at the lowest recorded level.

The eventual annual target for harvest is 95,000 tonnes from the Faroe Islands and 45,000 tonnes from Scotland, which the company aims to achieve within the next three years.

The full Q2 2023 report, which will include Bakkafrost’s financial performance, will be released on 22 August.



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