AquaBounty Pauses Construction At Ohio Farm

AquaBounty Technologies has hit pause on construction at their new facility in Pioneer, Ohio.

CEO Sylvia Wulf gave an update on the construction early last month when the company released their financial results for Q1. At the time Wulf said that construction was continuing to progress and that the “timing for the closing of our bond financing is still expected to be mid-year.” Now, in the latest update released on Friday, Wulf said that a “substantial increase in its estimated cost of completion” has forced them to pause construction...

NOAA Offering Reward After 7 Steller Sea Lions Shot During Copper River Salmon Season

Seven Steller sea lions were shot and killed near Cordova shortly after the Copper River salmon season kicked off last month. Now, NOAA is offering a reward of up to $5,000 for information that will lead to a civil penalty or criminal conviction of those responsible.

The dead sea lions were first discovered on May 16, 2023 along the eastern edge of Prince William Sound. Law enforcement says that the sea lions appeared to have been shot. However, there was no evidence of...

ANALYSIS: Farmed Salmon Feeling the Summer Slowdown

Salmon at retail looks to be starting to feel the summer slowdown. Over the past five weeks, retail features or buying opportunities have trended below both the 3-and-5-year averages. In addition, outside of one-week, average price at retail for fresh Atlantic salmon fillets has been trending above both the 3-and-5-year averages. Year-to-date the total number of buying opportunities or retail features is very close with 2023 only 1.7 percent higher than YTD in 2022. Average retail price YTD is also very close...

ANALYSIS: Wild Salmon Week in Review May 28-June 3 

A few weeks into the wild salmon season and sockeyes out of Copper River have already surpassed both 2022 and the five year average in landings year to date (YTD). As of this writing the cumulative total for Copper River sockeyes is 257,000. 28% higher than the five year average of 200,000 fish and 42% higher than...

April Salmon Sales at the Tokyo Central Wholesale Markets

Sales of salmon and trout at the Tokyo Central Wholesale Markets in April showed a slight slowdown in frozen and salted salmon amid continued high prices overall, while fresh salmon sales finally turned positive. The Suisan Keizai Shimbun reported that although imports of fresh salmon continued to be sluggish, farmed coho from Miyagi Prefecture showed some consistency from an early stage.

Fresh salmon

The total sales volume was 482 tons, which finally started to pick up after a period of sluggishness due to a decline in imports triggered by soaring...

Norwegian Salmon Tax Reduced From 35% to 25%

A new agreement has lowered the resource rent tax on aquaculture in Norway to 25%. The tax rate was initially proposed at 40% before being lowered to 35% earlier this year. 

“After a long process, we are now ensuring that the Storting [parliament] adopts the principle of ground rent in aquaculture,” Geir Pollestaf of the Centre Party said in a press release. “The parties to the agreement also secure a majority for a tax rate of 25% and an increase in the discount on the property tax value for farming concessions...

CDFW Announces $20.4 Million in Grant Funding to Protect Salmon Habitat, Other Wildlife

California salmon will benefit from millions of dollars in a third round of funding designed to benefit the state's fish and wildlife.

The California Department of Fish and Wildlife said Thursday that $20.4 million has been awarded for 15 projects to improve salmon habitat and support climate resiliency, wildlife corridors and wetlands restoration. The funding was made available last year under Drought, Climate and Nature-Based Solutions Initiatives, bringing the total grant funding awarded to nearly $80 million ...

Norwegian Salmon Tax Delayed As Agreement Yet To Be Made 

The threat of a salmon tax in Norway continues. While the Norwegian government finally released details in late March about what the tax would entail, negotiations are still underway and an agreement has yet to be made. 

Norwegian news outlet E24 reported on Wednesday that the Labor Party and the Center Party have not reached an agreement yet with the Socialist Left Party (SV). According to previous reports, SV wants the tax level to be higher than the 35% proposed. SV also reportedly wants to include environmental measures in the...

Japan: Seafood Imports from Russia Swelled to JPY 155 billion in 2022, Highest Since 1992

According to Japan's Ministry of Finance's trade statistics, the value of seafood imports from Russia in 2022 increased by 12.95% from the previous year to 155.2 billion yen ($1.11 billion), the highest since 1992, the year after the collapse of the Soviet Union. The Suisan Keizai Shimbun reported that snow crab was the most popular item, followed by Pollock roe and sockeye salmon.

Following Russia's invasion of Ukraine, Japan has imposed an embargo on specific electronic components and semiconductors as part of its sanctions...

Land-Based Salmon Farmer Proximar Seafood Taps Ole Christian Willumsen as CFO

Proximar Seafood, a land-based salmon farming company based in Norway with a production facility at the foot of Mount Fuji in Japan, has appointed Ole Christian Willumsen as Chief Financial Officer (CFO).

“Proximar is very pleased that Mr. Willumsen will join as our new CFO. He brings important and highly relevant competence to Proximar, including experience from working in Japan and with Japanese multinational corporations. I am confident that he will be a valuable member to our team and in the further development of the company...

Faroe Islands Passes New Tax Plan for Salmon Farming Industry

The Faroese Parliament passed a new tax plan this week that will adjust the revenue tax for the country’s salmon farming industry that will go into effect on August 1, 2023.

According to leading Faroe Island salmon farmer Bakkafrost, nine different tax rates can be applied, dependent on the difference between the monthly FishPool Index prices and the average production cost for the Faroese salmon industry.

Bakkafrost said the average production costs will be assessed twice a year and the applicable tax rate ranges from 0.5% to 20%...

Under the Radar Protein News of the Week

Find a weekly roundup of news from across the protein landscape that flew under the radar this week.

Cultivated Meat Producers Debuts Massive Campus

Mosa Meat, a company on the frontline of the cultivated protein space opened a new 2,760 square metre (29,708 square feet) scale-up facility in Maastricht, The Netherlands on Monday. his fourth facility completes the new Mosa C.A.M.P.U.S. or Center for Advanced Meat Production, Upscaling, and Sustainability for a total footprint of 7,340 square metres (79,007 square feet).

Mosa Meat CEO Maarten Bosch said: "As this scale-up...

High Salmon Prices Lead to Mowi’s Best-Ever Profit, Revenue

Salmon farming giant Mowi saw its best operating profit in the company’s history during the first quarter of 2023, reaching 322 million euros ($354 million), well above the 207 million euro mark hit in Q1 2022.

The company also hit its highest-ever revenue market of 1,362 million euros. Mowi credited “seasonally record-high salmon prices due to reduced global supply and good demand” for the impressive results.

“High prices and stellar operational performance by my 11 500 colleagues in 25 countries across the world made the first quarter...

Russia Faced With Decline of Salmon Supplies to Domestic Market  

Russia is facing ever declining salmon supplies to the domestic market and growing prices for it, according to recent statements made by some local analysts and Russian media reports.

According to data of the Russian Fish Union, the wholesale price of salmon last year increased by 72%, while the growth is currently ongoing.

One of the major reasons for this is relatively small salmon catch in Russia last year.

Traditionally, sales of wild red fish in Russia — such as pink salmon, sockeye salmon, chum salmon and coho salmon...

Alaska Salmon Season Officially Begins Next Week

Alaska’s first fresh salmon of the season always creates extreme interest for restaurat

Alaska’s 2023 salmon season officially gets underway on Monday, May 15 with the arrival of sockeyes and Chinook to the Copper River near Cordova.

State fishery managers have announced there will be a 12-hour opener starting at 7am for the drift gillnet fleet.

The 2023 Copper River sockeye salmon total run forecast is estimated at 1,646,000 fish, which is 14% below the 10-year average. That would produce a commercial harvest of 987,000 sockeye salmon for the season...

Japan: March Salmon Imports Up in Alaskan Sockeye, Chilean Coho Fell Again

According to customs statistics released by the Ministry of Finance, imports of salmon and trout in March fell below the same month of the previous year as frozen Chilean coho decreased again. According to the Suisan Keizai Shimbun, the total amount of Chilean coho for the season since October last year has fallen to 63,000 tons, the lowest in five years.

The total imports of salmon and trout in March were 22,487 tons worth 29.1 billion yen ($211.6 million), a significant decrease of 18.4% in volume...

Japan’s Salmon Imports in April Fell 32%, Show Notable Decrease in Chilean Coho to 4,800 Tons

According to customs statistics released by the Ministry of Finance, imports of salmon and trout continued to decline sharply in April, with a particularly pronounced decline in frozen Chilean coho. Since October last year, seasonal totals have yet to reach the 70,000-ton mark, and as of the end of April, it fell sharply to the 60,000-ton level for the first time in six years compared to the norm 80,000-90,000 tons in recent years. Sockeye imports from the U.S. and...

Summer of Sockeye Salmon Kicks Off in Bristol Bay, Alaska

The highly anticipated annual wild sockeye salmon season in Bristol Bay, Alaska has officially commenced and fishermen are gearing up for what is expected to be one of the most bountiful in history. The 2023 harvest runs through September, and is forecast to be among the top five strongest in the last 20 years, estimating a haul of around 37 million fish. This means plenty of delicious, wild sockeye salmon in restaurants and grocery stores nationwide, making this sure to be the summer of sockeye...

Further Closures of Salmon Farms in BC Put Surrey’s Economy and Indigenous Reconciliation at Risk

Surrey, B.C. – The Surrey Board of Trade is concerned to hear the news that the Minister of Fisheries and Oceans Canada (DFO), the Honourable Joyce Murray, intends to propose additional closures of salmon farms as part of her British Columbia salmon farming transition plan.

Surrey is the hub of salmon farming in Metro Vancouver, home to numerous operations in salmon feed milling, fish processing, trucking, packaging, and the provision of goods and services, and is already experiencing negative...

JAPAN: April Salmon Sales at the Tokyo Central Wholesale Markets

Sales of salmon and trout at the Tokyo Central Wholesale Markets in April showed a slight slowdown in frozen and salted salmon amid continued high prices overall, while fresh salmon sales finally turned positive. The Suisan Keizai Shimbun reported that although imports of fresh salmon continued to be sluggish, farmed coho from Miyagi Prefecture showed some consistency from an early stage.

The total sales volume was 482 tons, which finally started to pick up after a period of sluggishness due to a decline in imports triggered by soaring international prices...

Further Closures of Salmon Farms in BC Will Work Against Innovation and a Successful Transition 

Campbell River, BC – The BC Salmon Farmers Association (BCSFA) has grave concerns that the Minister of Fisheries and Oceans Canada (DFO), the Honourable Joyce Murray, is committed to closing salmon farming in BC, a sector that provides thousands of direct and indirect jobs in coastal, rural British Columbia.

The BCSFA learned this week that Minister Murray’s proposing the further removal of salmon farms in BC after recently closing 40 per cent of existing farms since 2020. Any further reduction in salmon production could signal....

Tribes Gain Additional Co-Management Status for Salmon, Wildlife in Western States

Federally recognized Indian tribes have had varying degrees of fisheries management access in Washington, Oregon and California, but recent actions have acknowledged tribal help and successes, particularly as they relate to salmon.

Salmon has held special cultural significance for tribes from the West Coast and Alaska. Several years of slim returns have prompted state and tribal managers to propose new ways to manage hatcheries and stocks.

For example, last year, the Oregon Fish and Wildlife Commission adopted a Coquille Tribe ...

‘Serious’ Disease Detected for the First Time in 15 Years at Lerøy Salmon Sites in Central Norway

Bacterial kidney disease (BKD) was detected at four fish farms in central Norway, according to the Norwegian Food Safety Authority, Mattilsynet.

This marked the region's first BKD infection in 15 years and was found in sites near the Hitra, Heim, Aure and Kristiansund municipalities. The infectious disease was described as serious by the Food Safety group.

This marked the region's first BKD infection in 15 years and was found in sites near the Hitra, Heim, Aure and Kristiansund municipalities...

Salmon Evolution Stabilizes Mortality Issues Amid Loss-Making First Quarter

Land-based Norwegian salmon farmer Salmon Evolution said in its first quarter financial report that it had stabilized the increased mortality issues that hit the company to start the year.

“We are pleased to see that the decisive actions taken over the last weeks is now stabilizing the situation and enabling the Company to transition back to production modus,” said CEO Trond Håkon Schaug-Pettersen.

The firm said the mortality events were triggered by AGD, leading to gill health problems. Since then, Salmon Evolution said it has...

Sanford Half-Year Results Show Improvement but Company Still Lags Behind Pre-COVID Marks

Sanford Limited, a key seafood player in New Zealand, reported improved financial performance for the first half of 2023, however, CEO Peter Reidie said the gains have still not brought the company to levels seen pre-COVID.

The company reported a net profit after tax of NZ$11.1 million ($6.97 million) in the first half of 2023, well above H1 2022’s $6.1 million. Adjusted EBIT for H1 2023 was $26.6 million, a 38.7% jump from this time last year...

ANALYSIS: Frozen Sockeye Prices Continue to Retreat Ahead of the New Season

The massive record-breaking sockeye season from 2022 continues to have a major impact across the entire salmon complex. The most immediate is the general weakening on frozen sockeye. With the upcoming season about a month away, there is pressure to move through older inventories. Many market participants report heavy discounting among some sellers to incentivize sales and keep things moving. Sockeye 2-3 lb. frozen fillets at the start of 2023 were at an average price of about $9.25/lb...

USDA Approves Purchases of Alaska Sockeye Salmon Products, Including Canned And Frozen Portions

The Alaska Delegation made up of Senators Lisa Murkowski and Dan Sullivan, along with Representative Mary Peltola, is celebrating the U.S. Department of Agriculture’s (USDA) recent approval to purchase up to $119.5 million worth of Alaskan sockeye and pacific groundfish.

Looking specifically at salmon, the Alaska Seafood Marketing Institute (ASMI) confirmed that $67.5 million is designated for sockeye salmon products. This includes up to $37.5 million for canned and $30 million for frozen sockeye filet portions, which amounts to an incredible 14 million 4-ounce servings...

Bakkafrost Pleased with Progress Made in Scottish Operations, ‘Satisfied’ with Q1 Results

Faroese salmon farmer Bakkafrost was pleased with its efforts to improve its Scottish operations, with a jump in total operating EBIT and profit in the first quarter of 2023.

The company reported an EBIT of DKK 565 million ($83 million), up from 2022’s DKK 418 million mark. Profit also jumped compared to a year ago to DKK 467 million from DKK 405 million.

“Overall, we are satisfied with the results in this quarter but especially with the improved results in Scotland,” CEO Regin Jacobsen said...

ANALYSIS: King Salmon Closures Could Have a Major Impact on 2023 Pricing

The wild salmon season is almost upon us and one of many storylines for 2023 that market participants are talking about is the uncertainty of the chinook or king salmon supply this year. With dwindling numbers, California was the first to act, closing down the commercial king season for the first time since the season closed in 2008 and 2009. Oregon has also closed much of its season primarily around the Klamath River. The latest closures are for the Southeast Alaska region...

Creative Salmon Chooses Innovasea as Biomass Estimation Partner after Six Month Pilot Program

Innovasea, a global leader in technologically advanced aquatic solutions for aquaculture and fish tracking, announced today that its real-time biomass estimation solution, BiomassPro, is now in full commercial use at Creative Salmon’s farms on Vancouver Island in Canada after proving to be 99.7 percent accurate during on-site testing. 

Creative Salmon purchased the solution after using it for six months as part of a pilot program that allowed Innovasea to fine tune the algorithm for king salmon...