November 23, 2021


Rabobank analyst expects Iceland to play strong role in salmon production


Iceland was likely to be one of the major drivers of global salmon growth, according to Gorjan Nikolik, senior seafood analyst at Rabobank.


"I expect Iceland [which harvested 34,000 tonnes in 2020] to become a major producer, maybe even in the next five or six years, it will maybe even get to the same level as the Faroe Islands [c.80,000 tonnes in 2020] or maybe even the UK [192,000 tonnes in 2020]," he speculated at the recent GOAL conference.


Meanwhile, he noted that this year's growth in Norwegian production was likely to reach "an incredible" 10.2%. "This was actually quite a surprise for a lot of people and is based on, to a large extent, very good biology, some large smolt utilisation, but also as they moved a part of their production from 2020 to 2021."


As for the Chilean sector, Nikolik said that the well documented drop in production meant that total production was likely to total 14.1% below 2020's levels. This was largely due to reductions in the numbers of smolt being stocked during the year. However, he forecast that it will bounce back by 8.8% in 2022, by which time it would be back to pre-pandemic levels.


- The Fish Site