Bakkafrost planning 40% harvest increase by 2023
Faroese salmon farmer Bakkafrost estimates an increase of 40% in harvest volume in four years.
The projection was made in a Capital Markets Day presentation today, in which the company also laid out its plans to invest DKK2.5 billion (£298m).
Bakkafrost, the biggest of the Faroes’ three salmon farmers, estimates there will be a growth of 22,000 tonnes in harvest volume to around 76,000 tonnes by 2023.
Approximately £182m of investment is associated with future growth, which includes both greater smolt capacity and investments in ships. Smolt size will gradually increase from between 100 and 200 grams to 500g by 2022.
The Suðuroy cluster, which is being developed on the south side of the Faroe Islands, will harvest around 15,000 tonnes in 2023.
Download the full presentation here.
