News
Loch Duart profits up 126% for 2023
Independent salmon producer Loch Duart Ltd has reported profits of £3.4m for the 2023 financial year, up from £1.5m. The company’s accounts for the year 31 March 2023 also show that turnover was £52.5m (2022: £40.6m). Loch Duart farms salmon derived from a wild Scottish strain, in Sutherland and the Hebrides. The directors’ report for…
Read MoreMowi reports record Q3 earnings, Scotland doubles profit
Mowi today unveiled record high 2023 third quarter revenues of €1.36bn (£1.18 bn) with Scotland more than doubling its operational profit or EBIT. The global operational profit was €203m (£176.5m) of which its Scotland operation contributed €9.2m (£8m) up from €4.2m (£3.6m) a year ago. The group said the performance during the July to September…
Read MoreSalmon companies at top of sustainable producers list
Salmon producers have taken the top three places in a global listing of the most sustainable animal protein producers. Mowi was ranked first for sustainability by the Coller FAIRR Protein Producer Index for the fifth year in succession. The company is joined in the top three ranked companies by fellow aquaculture businesses Lerøy Seafood Group…
Read MoreHigh salmon prices will continue into 2024 – Bakkafrost chief
Bakkafrost CEO Regin Jacobsen remains in positive mood despite various challenges at its Scottish and Faroe Island farming operations. He told shareholders in the company’s third quarter report yesterday that the supply growth was likely to remain low for the coming quarters. “The Chinese market has gained momentum and we have also increased our market…
Read MoreOban hosts seaweed summit
The seaweed sector in Scotland has great growth potential, but how can it scale responsibly? What are the key considerations when developing and growing the industry, and how do we ensure we have a responsible and sustainable sector? These are among the questions that will be addressed next week at the 2023 Scottish Seaweed Industry…
Read MoreNofima names new aquaculture head
Norwegian research institute Nofima has appointed Linn Anne Bjelland Brunborg to the post of Director, Aquaculture Division, starting 1 January. She was previously General Manager of Orkla Ocean, a Norwegian company set up to develop seaweed farming for food and related products. Bjelland Brunborg studied human nutrition at the University of Bergen and started her…
Read MoreCall for labelling to identify salmon diseases
The Norwegian Consumer Council says customers should be told when salmon sold in shops have a history of illness. But the industry has come out strongly against the idea, arguing that fish diseases do not affect humans. Norway’s salmon farmers have been particularly badly affected by various biological diseases such as infectious salmon anaemia (ISA)…
Read MoreBakkafrost to postpone some slaughtering as profits drop
The Bakkafrost Group delivered a total operating EBIT or operating profit of 269 million Danish kroner (£31m) during the Q3 July to September period this year, down from DKK 325m (£37m) 12 months ago. With lower harvests from the Faroe Islands and problems in Scotland, the results were not unexpected, but the company has also…
Read MoreBakkafrost Scotland losses mount but progress on the horizon
Bakkafrost’s farming operations in Scotland continued to produce sizeable losses between July and September, the Q3 figures show. The Farming Scotland EBIT or operational loss was DKK 282 million (£33m), up from a loss of DKK 180m (£21m) a year ago. Freshwater Scotland saw its operational EBIT or profit increase from DKK 11m (£1.2m) to…
Read MoreScottish Government confirms it is scrapping HPMA plan
The Scottish Government’s plan to introduce highly protected marine areas covering a tenth of the country’s waters is dead – and that’s official. The government has today confirmed that, following an extensive consultation on the proposal, the plan for highly protected marine areas (HPMAs) will not be taken forward. Under the consultation, HPMAs would be…
Read More