Multiple salmon farmers posted increased harvest volumes during Q1 2025 trading updates.
Lerøy Seafood Group ASA (LSG) harvested approximately 38,200 gutted weight tons (GWT) of Atlantic salmon and trout in the first-quarter of this year, with the volume up 11,800 GWT compared to the corresponding period of 2024.
That total excludes the harvest from LSG’s 50-percent stake in Scottish Seafarms.
According to the Bergen, Norway-headquartered company’s latest trading update, Lerøy Aurora harvested 7,100 GWT, Lerøy Midt harvested 16,400 GWT, and Lerøy Sjøtroll harvested 14,800 GWT (of which 9,500 GWT was trout). In Q1 2024, these regions’ volumes stood at 6,000 GWT, 13,700 GWT, and 6,700 GWT (of which 3,300 GWT was trout), respectively.
LSG’s wild catch in Q1 2025, delivered by its Lerøy Havfisk segment, totaled 19,000 metric tons (MT), representing a decrease of 5,100 MT year-on-year. The quarter’s catch included 3,600 MT of cod, versus 6,700 MT previously.
Lerøy, like many other companies, is dealing with lower cod quotas in the Barents Sea, which has resulted in lower cod export volumes from Norway but higher prices.
Lerøy’s complete Q1 2025 report will be released on 15 May 2025.
At its 2022 Capital Markets Day, LSG announced multiple strategic targets for 2025, which included an annual salmonid harvest of 205,000 GWT, a wild catch EBIT of NOK 500 million (USD 46 million, EUR 41.9 million), and an EBIT of NOK 1.25 billion (USD 114.9 million, EUR 104.8 million) for its downstream VAP, Sales and Distribution (VAPS&D).
In February this year, it said the goal of 200,000 GWT harvested volume for the Norwegian operations this year was ambitious but achievable, although it was estimating 195,000 GWT, with another 16,000 GWT from Scottish Seafarms.
Also based in Bergen, Grieg Seafood ASA harvested approximately 20,800 GWT of salmon in the first-quarter, representing a slight decrease of 200 GWT on the corresponding period of last year.
Grieg’s Q1 2025 trading update advises that its Rogaland and Finnmark regions of Norway harvested 7,400 GWT and 8,100 GWT of salmon, respectively, in the period, versus 9,400 GWT and 5,700 GWT a year previously.
At the same time, the group’s Newfoundland (NL) farms harvested 5,100 GWT, compared with 5,200 GWT in Q1 2024.
Around 100 GWT of spare broodfish were harvested by its British Columbia (BC) in the quarter versus 700 GWT previously, with Grieg stating that ordinary harvests will commence in the second-quarter. Grieg’s B.C. operations have had to grapple with the Canadian government’s plan to “transition” away from net-pen salmon farming, which will result in what is essentially a ban on all salmon farming in the province as of 30 June, 2029.
Meanwhile, Måsøval AS has confirmed a first-quarter harvest of 5,226 GWT, up from 3,606 GWT in Q1 2024. The salmon company – located in central Norway – said that the total included 228 GWT harvested for co-location partners.
Both Grieg and Måsøval will issue their complete Q1 reports on 22 May 2025.
Reporting from the Faroe Islands, Bakkafrost Group’s latest trading update advises a total Q1 2025 harvest of 25,200 metric tons (MT) of head-on gutted (HOG) salmon, with its Faroes’ operations contributing 18,900 MT, and its Scottish operations harvesting 6,300 MT. In the corresponding quarter of last year, the group reported Faroese and Scottish volumes of 14,300 MT and 7,300 MT, respectively.
It also notes that the average weight of these fish were 5.1 kilograms in the Faroes, and 6.7 kilos in Scotland.
The group’s feed sales for Q1 2025 totaled 31,300 MT, with Havsbrún sourcing 109,500 MT of raw materials, versus 27,000 MT and 136,900 MT previously.
It has previously forecast a 2025 harvest of 97,000 MT gutted weight, with 77,000 MT coming from the Faroe Islands and 20,000 MT from Scotland. The longer-term harvest target is to reach 165,000 MT by 2028.
Bakkafrost CEO Regin Jacobsen told SeafoodSource the company plans to expand and hone in its smolt production, which he said is essential if the company wants to produce healthy fish.
Bakkafrost’s full Q1 2025 report will be released on 19 May 2025.
