Grieg switching focus to Atlantic salmon

Norway-based seafood farmer Grieg Seafood is discontinuing its production of trout in its Finnmark division and Pacific salmon in British Columbia, Canada, in order to focus on “producing Atlantic salmon in all regions,” according to the company’s 2013 annual report.

In the report, Grieg noted that at its Finnmark division, “Trout is externally harvested, which increases harvest costs. Trout has a higher production per kilo than salmon.” The company also noted pricing differences between Atlantic and Pacific salmon mean producing Atlantic salmon makes more sense.

The company reported increased sales volume in 2013, totaling NOK 2.4 million (USD 399,006, EUR 288,681) an increase over the NOK 2 million (USD 332,505, EUR 240,576) recorded in 2012. That, and cutting of various costs and improvement of asset values, led to a total 2013 profit of NOK 430,985 (USD 71,652, EUR 51,842), up from the NOK -147,188 (USD 24,470, EUR 17,704) recorded in 2012.

In his annual statement, CEO Morten Vike said “turnaround” in controlling disease and sea lice in the company’s Shetland, U.K. and Canadian divisions were part of the reason for the company’s success.


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