Bakkafrost Group posted total operational earnings before interest and taxes (EBIT) of DKK 325 million (USD 42.8 million, EUR 43.7 million) for Q3 2022 – more than quadrupling the DKK 71 million (USD 9.3 million, EUR 9.5 million) delivered a year previously.
In the quarter, the Faroe Islands-based salmon-farming firm achieved a Q3 2022 profit of DKK 249 million (USD 32.8 million, EUR 33.5 million), up from DKK 131 million (USD 17.3
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Italy and Lithuania have become the latest countries to adopt European Maritime, Fisheries, and Aquaculture Fund (EMFAF) programs and will receive EUR 518.2 million (USD 517 million) and EUR 61.2 million (USD 61.1 million) respectively in E.U. funding over the next six years.
The total financial allocation for the Italian program is EUR 987.2 million (USD 986 million), while Lithuania’s is EUR 87.4 million (USD 87.2 million).
According to
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Klepp, Norway-based aquaculture services and equipment provider AKVA Group posted a net loss of NOK 93 million (USD 8.9 million, EUR 9.1 million) in the third quarter of 2022.
AKVA received orders totaling NOK 650 million (USD 62 million, EUR 63.3 million) in Q3 2022, representing a year-over-year increase of NOK 34 million (USD 3.2 million, EUR 3.3 million). It also recorded an order backlog of NOK 1.6 billion (USD 152.6 million, EUR 155.9
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European frozen food company Nomad Foods has signed new contracts to secure increased supplies of Aquaculture Stewardship Council-certified farmed pangasius from Vinh Hoan, VDTG, and Godaco Seafood starting next year.
Nomad, which purports to be the world’s largest branded purchaser of Marine Stewardship Council (MSC) certified fish, said the contracts mark a significant milestone in its journey to source 100 percent of all its seafood
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Overcoming the inflationary squeeze on consumers’ pockets, Norway once again achieved its best-ever month for seafood export earnings in October.
In total, the Scandinavian country sold NOK 15.4 billion (USD 1.5 billion, EUR 1.5 billion) worth of fisheries and aquaculture products to overseas markets last month, a new record total and up 27 percent, or NOK 3.3 billion (USD 310.9 million, EUR 319 million), compared with October 2021. The
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Trondheim, Norway-based aquaculture venture Norcod has entered into a NOK 75 million (USD 7.1 million, EUR 7.3 million) overdraft facility with DNB. The GlobalG.A.P.-certified producer is planning to use the facility to further invest in its production at sea and to build up biomass. In a Euronext Growth Oslo filing, Norcod said the credit agreement with Norway’s largest bank secures the financing of its operations for the upcoming 12
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Icelandic fishing firm Vinnslustaðirinn (VSV) has confirmed intention to buy Ós and Leo Seafood.
Ós owns and operates fishing vessel Þórunna Sveinsdóttir VE-401, while Leo Seafood operates a fish-processing plant and exports products to Europe and North America. The current owner of the two companies is Sigurjón Óskarsson and his family.
“The board of
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A sharp increase in energy costs and inflation in 2022 will result in E.U. fisheries struggling to maintain profits, and the fleet could end 2022 in a loss-making position, according to the “2022 Annual Economic Report on the E.U. Fishing Fleet” published by the European Commission Scientific, Technical, and Economic Committee for Fisheries (STECF).
STECF’s projection doesn’t consider E.U. financial support
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Salmon farmers in Scotland harvested 205,393 metric tons (MT) of fish in 2021, a new record, representing a 7 percent increase on the previous year, according to a new report from the Scottish Government.
Marine Scotland Science’s “Scottish Fish Farm Production Survey 2021" found that, in addition to producing 13,264 MT more Atlantic salmon in 2021 than the prior year, the total number of smolts produced increased 1 percent to 51.2
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Europeans are likely to be eating cultured meat before they eat cultured seafood, with regulatory approval for the former not expected for another three or four years, according to alternative protein experts.
While regulatory approval for cultured food is eventually anticipated to be approved by European authorities, the European Food Safety Authority (EFSA) has not yet defined the approval process for cultivated proteins, and once that process
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