Higher prices but lower harvests for Nordic Halibut

Nordic Halibut says it is continuing to see an upward trend in sale prices, year on year.

The company, also known as NOHAL, achieved an average sale prices of NOK 147 (almost £11) per kilo during the third quarter period, reflecting a 2% increase on the previous year.

More significantly, the year to date sales for this year so far are averaging NOK 160 per kg, marking a 14% growth.

The total revenue generated during the quarter amounted to NOK 17 million (£1.25m) and harvest volumes ended at 131 tonnes (118 tonnes heads on gutted).

Nordic Halibut said: “Throughout the quarter, the company has strategically harvested fish and units to align with the adjusted commercial focus communicated in the Q2 interim report towards larger sized fish and optimal size distribution.

“This resulted in a relatively low average harvest weight of 4.8 kg (4.3 kg HOG) in the quarter. The reduced harvest weight directly impacted the company’s average pricing achievement with lower volume share sold at preferred size categories above 5 kg.”

It said price levels for various size categories remained consistent with previous periods, proving continuous positive underlying market trends.

However, harvest weights during the third quarter were lower compared to previous periods, resulting in a decreased volume share sold to the US market.

“Given the significant preference for larger-sized fish in the US market, this underscores the company’s commercial strategy to maximize the potential of larger-sized harvests intended for this market and other prioritized markets,” it added.

This year, NOHAL said it aims to release a million fish into the sea, equivalent to the growth phase 1 production target of 5,000 tonnes (4,500 tonnes HOG) to be harvested during 2026.