REGIN Jacobsen, the chief executive of Bakkafrost, the Faroe Islands’ main salmon farming company, has spoken of the importance of a good regulatory farming environment in creating a value chain and a unique product.
Jacobsen, who was addressing the North Atlantic Seafood Forum in Bergen on Friday, gave an upbeat assessment of his company’s recent performances and its outlook for the future.
He said investment would be made step by step in the relevant parts of the value chain to secure efficiency, reduce biological risk and secure organic growth.
Less than a month ago the company announced record results for 2014.
The company was already investing in a new hatchery and a new well boat and the total investment over the next two years will be 1,120 million Danish kroners (DKK).
This should lead to a three and half times increase in capacity by the end of 2017, as well as larger and higher quality smolts.
Jacobsen also expected a reduced growing period in sea farming, reduced number of sea lice and a reduced biological and veterinary risks, along with lower mortality.
He told the Bergen audience that the larger smolts should lead to a six months reduction in the growing period.
And he said Bakkafrost was preparing for the future with a highly modern new harvesting and value added product facility in the Faroe Islands. Building has already started.
He also pointed out that Faroese salmon last year achieved a higher average price for its export salmon of NOK (Norwegian kroners) 5.3 per kg than its Norwegian counterpart.