Cod farmer gears up for large year end harvest

Norwegian cod farmer Statt Torsk is preparing for a 3,000 tonne harvest of high quality fish towards the end of the year.

Reporting its final quarter results for 2021 , the company said its Rekvika plant is now in full production with a total of 1.17 million fingerlings transferred to sea during 2021.

It says the production side is performing well with all biological parameters in line with the company’s targets.

The expected volume for 2022 is being maintained at 3,000 tonnes and the product quality was excellent, it added.

A few weeks ago the company said that around 70% of pilot production cod had been sold to one of Spain’s largest food retailers at a gross price of NOK 60 plus per kilo.

CEO Gustave Brun-Lie, CEO said that Pilot-3 has now been completed and Statt Torsk was now entering a new phase with production at an industrial scale.

“As from September this year we will deliver more than 3,000 tons of fresh and high-quality products, aiming at everyday deliveries in accordance with a defined and predictable schedule throughout January 2023. “

After that period there will be something of a pause but from May 2023 the company will be able to deliver the whole year round.

Statt Torsk reported a Q4 loss of NOK 16m (minus £1.3m) against a loss of NOK 5m (minus £416,000) for Q4 2020.

Turnover rose from NOK 4.9m (£408,000) in Q4 2020 to NOK 7.2m (£600,000) last year.

Statt Torsk AS I (sometimes called Stadt Torsk) is listed on Oslo’s Euronext Growth exchange and is based in Norway’s Vestland region.