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ESE BRUSSELS REPORT: Salmon Production Bucking the Economic Trend

Salmonids Economics +2 more

BELGIUM - Norwegian based aquaculture giant, Marine Harvest has seen farmed salmon production increase by four per cent in the first quarter of this year - despite the current economic crisis.

The rise has come in the face of the current economic climate, where the company had expected to see a fall in consumption and prices.

However, speaking to TheFishSite during the European Seafood Exhibition in Brussels this week, Jorgen Christiansen said that instead of seeing prices fall they have been rising.

He said that the fall in consumption was expected to be met by the fall in production in Chile, because of the health problems being experienced on salmon farms in the region.

But he said that Chile has still been producing quantities of salmon and despite the recession consumption and prices have been going up.

He said that when production does fall in Chile, Marine Harvest will be able to switch some for the production to Norway which has a capacity to increase production by 85,000 tonnes.

He said that it is expected that the Chilean fish farms will start to see a decline in production from April and then this could affect prices if consumption and demand remain high.

Mr Christiansen also struck a hopeful note for the Chilean aquaculture sector, welcoming new regulations which he said would improve the situation if they were implemented and enforced.

He said that he expected that the Chilean waters would be clean within two years and then it would be likely that production could start to increase.

But he added that it could be several years before production is back to what it was.