Bakkafrost saves unique salmon strain from extinction

BAKKAFROST has revealed it is working to save a strain of North Atlantic salmon unique to the Faroe Islands that was in danger of becoming extinct, in a move that is starting to deliver success..

Chief executive Regin Jacobsen has told shareholders that the operation stems from large scale investment at its farming and harvest operation at Suðuroy in the south of the country.

He said:

\’Following the agreement with the Faroese Government to take over the responsibility of the Faroese broodstock programme, we have made commitments in order to save and preserve the Faroese strain of the North Atlantic Salmon.

\’Having been farmed for over 40 years in the Faroe Islands, this unique strain was facing extinction. Bakkafrost has the option to obtain the genome rights in 2021, and we are building a new state of the art broodstock facility to secure a future operation based on this strain.\’

\’In the meantime, we are pleased to have been able to deliver roe for this unique strain to our hatcheries and (we are) looking forward to being self-sufficient. The investment in the broodstock operation is a long-term investment, which we are convinced will create value for Bakkafrost.\’

Jacobsen is also convinced that the development of offshore farming, which has now been sanctioned by the Faroese government, was a feasible and natural next step with real growth potential for the Faroe Islands.

Last year Bakkafrost acquired the Scottish Salmon Company in a £500 million plus deal which took the company to a new level and beyond its core Faroe Islands base. Jacobsen said this move opened up significant new growth and development opportunities for the business. The company has already announced a sizeable investment programme for SSC over the next few years.