Proximar sales on track as Q2 harvest hits 360 tonnes

Proximar employee with salmon at the company's Japanese facility

Proximar Seafood announced today that it has pre-sold at least a third of expected annual production for this year from its new land-based salmon farm in Japan.

The company, which is putting the finishing touches to its RAS (recirculating aquaculture system) facility near Mount Fuji, had a standing biomass of 360 tonnes at the end of Q2 (June), more than tripling the 112 tonnes at the end of the first quarter.

Proximar said the first sales agreement has been reached, securing a fixed price per kilogram for a larger part of the harvested volumes for 2024.

The price achievement was in line with its expectations and benchmark, and it also reflected a price premium compared to the cost of imported Atlantic salmon from Norway.

The sales agreement is expected to cover approximately one third of the expected harvesting volumes for this year.

CEO Joachim Nielsen said in an Oslo Stock Exchange message: “We are very pleased to see the positive development in our biomass continuing through the second quarter of 2024.

“The water quality remains good which again is reflected in our growth curves. We continue to see low natural mortality.”

He added: “Our first batch is above 3.25 kg on average, and we remain on track for first harvest in September. We continue to do sample testing for quality and taste, and both internal and external feedback is very positive.”

Proximar currently has 15 batches and approximately 1.6 million individuals in production.

The targeted long-term harvest level is 5,300 tonnes (HOG) per year in Phase 1.

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