Posts Tagged ‘Faroe Islands’
Russian ban on Bakkafrost salmon could cost £30m
RUSSIA has imposed an import ban on salmon from Bakkafrost in a move which could cost the Faroese fish farmer around £30 million a year in lost income. The surprise decision will come into effect from February 10, with the Russian health authority -known as Rosselkoznador – saying it was due to the detection of ‘unwanted…
Read MoreHigher Q4 harvest, but lower EBIT at Mowi Scotland
MOWI is forecasting a 2,000-tonne harvest increase from its Scottish operations for the final quarter of 2019. The world’s largest salmon farming company says Scotland will have produced 14,000 tonnes over the period compared to earlier predictions of 10,600 tonnes, and 12,000 tonnes in Q4 2018. However, operating profits from Scotland are lower than 2018, with an…
Read MoreIceland ‘should embrace open sea farming’
ICELAND has the potential to almost triple its salmon production target if it develops open sea fish farming, a leading authority on aquaculture has suggested. The current government approved target is 50,000 tonnes a year, mostly carried out at traditional coastal or fjord based farms, although production is still well short of that figure. However, aquaculture consultant…
Read MoreBakkafrost plans bid for all SSC shares
BAKKAFROST plans to bid for the entire shareholding of the Scottish Salmon Company, its chief executive said today. Yesterday, the Faroe Islands’ largest salmon farmer announced it had acquired a 68.6 per cent stake in SSC from Northern Link in a deal worth £517 million. But CEO Regin Jacobsen said in a presentation at the…
Read MoreBakkafrost’s ‘clever way’ to create 40% growth
THE Faroe Islands’ biggest salmon farmer, Bakkafrost, expects volume growth of 40 per cent over the next four years, CEO Regin Jacobsen said today. The increase of 22,000 tonnes, to 76,000 tonnes, will be driven partly by larger smolt and the newly developed Suduroy cluster of farms in the south. When Bakkafrost’s Strond smolt plant…
Read MoreIceland must \’beef up\’ salmon air links
ICELAND must improve its air transport links and copy the Scottish sector on products if it is to enable its growing farmed salmon exports to reach the right markets, a leading logistics expert has said. Valdimar Óskarsson, managing director of the international forwarding service DB Schenker, based in Iceland, told a recent business conference that…
Read MoreIceland must \’beef up\’ salmon air links
ICELAND must improve its air transport links and copy the Scottish sector on products if it is to enable its growing farmed salmon exports to reach the right markets, a leading logistics expert has said. Valdimar Óskarsson, managing director of the international forwarding service DB Schenker, based in Iceland, told a recent business conference that…
Read MoreBigger smolts to drive Bakkafrost growth
THE Faroese fish farmer Bakkafrost has outlined two important developments in its annual sustainability and financial reports, published yesterday. First, there will be a significant increase in the number, and size, of smolts released this year. About 12.6 million smolts were released during 2018 and 9.9 million in 2017. The company now plans to raise…
Read MoreFaroese salmon exports down, cod up
EXPORTS of farmed salmon from the Faroe Islands have shown a significant decline during the first eight months of this year. Recent figures show that salmon sales – the islands’ most valuable seafood commodity – are down by 17 per cent or £51 million to a total of around £295 million over the period. There…
Read MoreFish Update Briefing, Friday, October 26
CHINESE-FAROESE DICTIONARY TO BOOST SEAFOOD SALES THE first edition of a Chinese-Faroese dictionary will be published next year to help business communications, largely seafood related, between the two countries. Both farmed salmon and conventionally caught fish are the islands’ largest export commodities, and although Danish is widely used in the Faroes, most business deals are…
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