Jason Holland

While Bakkafrost Group’s value-added product (VAP) segment performed strongly in the first quarter of 2023, a proposed new revenue tax on the Faroe Islands’ salmon farming industry could bring changes to the business’s long-term strategy.

Delivering Bakkafrost’s first-quarter results in Oslo, Norway, CEO Regin Jacobsen said the company’s VAP business posted operational earnings before interest and taxes (EBIT) of

Grieg Seafood harvested more fish than planned from its Norwegian operations in Q1 2023 after both its Rogaland and Finnmark salmon-farming sites contended with biological challenges.

According to Grieg’s first-quarter 2023 report, its Rogaland operations harvested 7,502 metric tons (MT) of salmon in the quarter, compared with 9,645 MT in Q1 2022,2,200 MT above guidance due to earlier-than-expected harvesting to reduce biological risk

Despite achieving record first-quarter profit and revenue, salmon farming giant Mowi has warned of the potential long-term consequences that would likely follow the introduction of Norway’s proposed new aquaculture resource tax in its current form.

The Norwegian government presented a revised resource rent tax proposal to parliament on 28 March, 2023, with a few changes made from its initial proposal, which was announced in September 2022.

Bakkafrost Group’s first-quarter 2023 salmon harvest in Scotland more than doubled its year-over-year production, guiding the company to its highest Q1 revenue ever of DKK 2.05 billion (USD 301.9 million, EUR 275.3 million).

Bakkafrost harvested 8,093 metric tons (MT) of gutted-weight salmon in Scotland in Q1 2023, up from 3,973 MT in Q1 2022, leading it to post 25 percent higher revenue in the quarter and its second-best-ever operational

There are good reasons for Europe’s aquaculture industry to be optimistic about its future, but it must overcome some weighty negative public perceptions, the members of a special conference session organized by the European Market Observatory for Fisheries and Aquaculture (EUMOFA) at the 2023 Seafood Expo Global agreed.

European Commission (DG MARE) Policy Officer Laurène Jolly said the European Union’s latest figures put

It has been a difficult time for most factions of the United Kingdom’s seafood economy, as rising costs and inflation, alongside shrinking consumer wallets, have continued to impact sales, with the volume and value of fish sliding in retail channels. 

Although these challenges are likely to persist at least through 2023, seafood and other sectors can experience some relief with the announcement of new trade deals, including the

The Irish seafood industry saw a boost to its value in 2022, largely driven by an increase in domestic consumption of seafood within foodservice channels and higher prices for products.

The GDP of the Irish seafood industry increased 4 percent to EUR 1.3 billion (USD 1.4 billion) last year, according to the latest Bord Iascaigh Mhara (BIM) “Business of Seafood” report. Launched by Ireland’s Minister for Agriculture, Food and

The years that have followed Lerøy Seafood Group’s 2017 acquisition of fishing company Havfisk and whitefish processor and distributor Norway Seafood in 2017 have been “interesting” and “a little bit more challenging” than Lerøy CEO Henning Beltestad thought they would be at the outset, but he said at the 2023 North Atlantic Seafood Forum (NASF) the journey has been “fantastic” and there