From Bloomberg, September 26:
- Company aims for 600,000 tons of salmon per year in 2029
- Salmon farming industry is struggling with disease, parasites
Mowi ASA, the world’s biggest salmon farmer, plans to increase its annual harvest by 20% and cut costs to meet growing demand for the pink-fleshed fish even as the industry struggles with the effects of disease and lice.
The Bergen, Norway-based company is targeting 600,000 metric tons of salmon in 2029 from 500,000 tons this year and cost improvements in the order of €300 million to €400 million, it said in a statement
ahead of its capital markets day on Thursday.
The industry heavyweight, which has grown from 375,000 tons of salmon in 2018, is betting that keeping young fish in freshwater facilities for longer will make them more robust when they are placed in the sea and reduce deaths in the pens, allowing the Oslo-listed company to grow capacity faster than their competitors.
The stock rose as much as 4.8%, the most since Jan. 19, and was up 3.9% as of 9:36 a.m. in the Norwegian capital.
Production growth in the global salmon farming industry has been checked as biological boundaries are reached, with disease and parasitic lice making it difficult for companies to meet demand that is outstripping supply for a food promoted as a healthy alternative to red meat and chicken....
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During the covid times we had quite a few posts on salmon. Unlike many foods that benefited from the stay-at-home/eat-at-home mandated ethos (think canned soup etc.) salmon consumption got hit with the closing and bankrupting of the restaurant industry.
So, thinking that one way or another the lockdowns would end and consumption return, we started pitching salmon. And getting into the risks of salmon farming, from the risks of escape of the farmed-fishies - introducing diseases to their wild cousins, to above-mentioned parasites and potential solutions such as the robotic laser sea lice zappers. If interested see:
https://climateerinvest.blogspot.com/search?q=salmon
