Following its first harvest round in May 2022, which totaled 960 metric tons (MT) of fish, Trondheim, Norway-based cod farmer Norcod AS harvested a total 4,380 MT of product in the second quarter of 2022.
Reporting the productivity both at sea and on land had been high throughout the quarter, Norcod said its yield of approximately 90 percent of finished product was sold through its partner company and shareholder Sirena AS. The company announced it generated nearly NOK 200 million (USD 20.7 million, EUR 20.4 million) in revenue as a result of the harvest.
Simultaneously in May, the company began stocking its third production cycle at sea, with its largest fry ready for transfer. The first group was sent to a Forså location, which Norcod is operating in cooperation with Kime Akva.
Harvest volumes from the 2022 batch are expected to be market ready in 2023-2024, and the company said it expects to compete stocking for its third production cycle at sea this summer.
At the end of June 2022, Norcod was granted permission to establish a new production location in Nesna municipality, with a total maximum allowed biomass (MAB) of 3,600 MT. The company plans to put the new site into production in the first half of 2023.
Including Labukta, Norcod now has a total of five cod-farming sites along the Norwegian coast, encompassing 19 licenses with a total MAB of 13,920 MT, giving it a total production volume more than 20,000 MT.
Meanwhile, to increase its feed and feeding strategy, Norcod opened a new feed center in June 2022, which is being operated by a newly-recruited feed team.
During the second quarter, Norcod made changes to its board of directors. Former Norcod Board Chair Marit Solberg, together with board members Boe Spurre and Tore Tønseth, did not stand for reelection at the firm's ordinary general meeting. Stepping up as new chairman was majority owner Jan Severin Sølbæk. Aquaculture industry experts Trine Danielsen and Renate Larsen joined as new board members.
The total volume in the coming harvest period is estimated at approximately 8,000 MT whole-fish equivalent (WFE), with the commercial harvesting of Norcod’s second batch of cod starting in September 2022. For this harvest period, the biomass will be supplied from its operations in Frøya and Meløy.
The company expects its harvested volume for 2025 to be around 27,500 MT WFE.
Photo courtesy of NorCod
