FAROES

The people of the Faroe Islands, an archipelago located in the North Atlantic, have harnessed the power of the sea not only for traditional fishing but also through the burgeoning industry of aquaculture. This form of fish farming has become a cornerstone of the Faroese economy, contributing significantly to its GDP. 

Since the 1980s, salmon has dominated the farmed sector and Faroes salmon is regarded as being of high quality, supplying markets in Europe, North America and Asia. 

The three key producers are Bakkafrost, Hiddenfjord and Mowi’s Faroes operation. 

The Faroese approach to aquaculture is marked by a commitment to sustainability. The industry is heavily regulated to ensure the health of the marine environment and the quality of the fish, partly based on the experience of facing up to some major health and welfare challenges while the industry was growing. 

As well as finfish, the Faroes is also seeing the beginning of potential new industry, in the form of seaweed. Ocean Rainforest has become something of a pioneer for kelp farming in Europe and indeed North America, where it also has operations.,

The islands also boast internationally respected research facilities, focused on issues like fish health and environmental impact. 

There is also a well-developed supplier base, from net-makers and boat-builders to electrical specialists, serving not only aquaculture but also the islands’ traditional fishing sector.

While the industry has a mostly sympathetic government, in recent times there have been debates over the best model of taxation to apply to the industry. Nonetheless, there is no doubt that the success of aquaculture is an intrinsic part of the success of the islands themselves.