Record growth

Siri Elise Dybdal

Gorjan Nikolik, industry analyst for food and agribusiness research at Rabobank International, the world's leading food & agri bank, is predicting record growth in the next couple of years:

“We are looking at a large volume expansion in the next 2-3 year period. There will be 25-30 per cent more salmon globally in the 2011-13 period,” Nikolik says and emphasises that there has never before been such growth.

“These volumes will put pressure on prices,” Nikolik underlines.

He does not believe salmon farmers will be achieving high prices in the coming year:

“There will be no good prices in 2012. It will be low prices slightly below or above production costs. It will be a tough year for producers,” he says.

However, the seafood analyst believes the industry will be heading out of the downward cycle in the not too distant future:

“Looking towards 2013-2014, we certainly don't believe Norway and Chile will be growing at this rate,” Nikolik says.

“Global demand is growing. And the supply to countries such as China, India, Brazil, Russia and even the US have a lot more potential,” the Rabobank analyst underlines and concludes that he believes we will see better profits towards 2013.