Jason Holland

Political leaders, fishing industry professionals, and environmental groups have all broadly welcomed the new provisional agreement reached between the European Parliament and the Council of the European Union on the revised E.U. fisheries control system.

Confirmed on 31 May, 2023 – exactly five years after the proposal by the European Commission to improve the implementation of the common fisheries policy (CFP) – the revised rules

High inflation and input costs combined to negatively affect the Q1 2023 results of Reykjavik-headquartered Iceland Seafood International (ISI).

In particular, the high price of salmon in the period impacted ISI’s operations in Ireland and Spain, while the up-for-sale business in the United Kingdom, Iceland Seafood U.K., continues to dent the company’s income, according to ISI CEO Bjarni Ármannsson.

ISI saw its total group

The Norwegian government’s proposed new aquaculture resource tax, which if passed will levy an additional 35 percent tax on the seawater grow-out stage of farmed salmon production, will weaken the industry’s development and could cause ripple effects throughout the country, according to Lerøy Seafood Group CFO Sjur Malm.

Speaking at a presentation of the Bergen, Norway, seafood corporation’s first-quarter 2023 results in

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