Marine Harvest, the world's largest fish farmer, said it expected a strong market this year and the next despite continuing production problems in Chile, as first-quarter operating profit rose 58%.

 

The firm said it expected to harvest 341,000 tonnes of salmon in 2011, of which 81,500 tonnes would be in the second quarter. It had earlier said it expected to produce 340,000 tonnes this year.

 

"The market outlook is strong for 2011 and 2012," the firm said. "New markets are under development and emerging markets like Russia are very promising."

 

The farmed fish market has seen double-digit growth worldwide in recent years as consumers seek healthier food to eat and those living in emerging economies have more money to spend.

 

Marine Harvest added, however, that salmon production in Chile, recovering from outbreaks of sea lice and fish disease in recent years, remained difficult.

 

Salmon production in Chile represented 5% of Marine Harvest's total output in the first quarter.

 

"Industry growth rate, smolt quality, antibiotics use and sea lice level in the industry, as well as delayed implementation of new regulations, raises concerns about future development," Marine Harvest said in a statement.

 

"Until the situation is under control only a limited part of Marine Harvest's potential capacity in Chile will be put into use."

 

The company said its operating profit rose US$165.9 million, in line with previous guidance

 

Marine Harvest also said it expected to announce a semi-annual dividend in the second half of 2011.