Bakkafrost expects reduced harvest figures

Bakkafrost says that its second quarter harvests for both the Faroe Islands and Scotland will be down this year.

Presenting its 2022 Q2 update today, the company is forecasting a total harvest of 19,700 tonnes (heads on gutted) against 28,200 tonnes over the same April to June period last year.

The figure for the Faroe Islands is 13,100 tonnes against 17,600 tonnes 12 months ago and for Scotland the expected harvest is 6,600 tonnes compared with 10,600 tonnes in Q2 2021.

The Bakkafrost Scotland figure is broken down as 2,400 tonnes from Scotland North and 4,200 tonnes from Scotland South.

Bakkafrost is currently engaged in a major overhaul to eliminate biological problems at its Scottish operation with an investment of at least £71m. It believes this investment will create jobs and drive forward the rural economy in the areas it operates.

Last month it announced it was changing the name of its Scottish operations from The Scottish Salmon Company (SSC), which it acquired towards the end of 2019, to Bakkafrost Scotland. The SSC brand will continue to be used for some products.

Bakkafrost said then: “The renaming of the Scottish operations will ensure that the group operates as ‘One Company’, with two regions of production.

“The ambition is to become Scotland’s leading most sustainable salmon producer and our sustainability strategy will totally transform the business [and] its impact on the environment and deliver leading standards of fish health and welfare.”

Group feed sales in Q2 2022 were 31,200 tonnes. Havsbrún sourced 97,600 tonnes of raw materials in Q2 2022.

The full Q2 report, which will include Bakkafrost’s financial performance for the period, will be released on 23 August.