November 19, 2024

Proximar Seafood sells first harvest of Atlantic salmon in Japan at premium price

Proximar Seafood, the first producer of Atlantic salmon in Japan, has announced the successful sale of its inaugural harvest at a price well above the normal import prices.

In its third-quarter report, CEO Joachim Nielsen highlighted that the company, years ahead of competitors, is now able to supply the Japanese market with domestically produced Atlantic salmon. He stated, "Proximar is the first producer of Atlantic salmon in Japan, years ahead of the competition. We are now finally able to supply the Japanese population with domestically produced Atlantic salmon."

Nielsen also pointed out the premium pricing achieved for the company's fish, calling it further confirmation of Proximar's business model and the significant cost advantage of local production in Japan. The first sale was priced at NOK 130 per kilogram, compared to the current average export price for salmon from Norway, which is around NOK 75 per kilogram.

Proximar Seafood, a Norwegian land-based salmon farming company, has established its first production facility at the base of Mount Fuji in Japan. The company's brand and logo were officially launched in Japan in October during an event at its partner Marubeni Corporation's headquarters in Tokyo, which attracted 18 media outlets.

Following the launch, external attention was significant, resulting in increased brand awareness and additional interest. The company noted that the emphasis placed on the brand and product during supermarket sales was key in communicating its value and building consumer awareness.

Proximar believes that the strong enthusiasm for the Fuji Atlantic Salmon brand in Japan is partly due to its status as the only supplier of domestic Atlantic salmon.

Earlier, Proximar reported challenges with turbidity in the water, which had led to reduced feeding and slower growth in the grow-out building. However, the company has now installed an ozone system, which has shown clear results by significantly reducing turbidity. The system is currently providing full dosage to one of the grow-out modules, with the final modules expected to be ready to receive full dosage this month. The company anticipates that turbidity will return to normal levels shortly.

Proximar continues to expect that phase one of its production, which is set at 5,300 tonnes, will reach full capacity by 2027.

-      Fish Farmer