Nordic Aqua’s first harvest had superior share of 99%

China land-based salmon farmer Nordic Aqua Partners has announced the successful completion of its first weekly harvest at its recirculating aquaculture system (RAS) facility in Gaotang, Ningbo, a city and prefecture with a population of nearly 10 million people.

The company is now set to introduce its Atlantic salmon under the Nordic PureAtlantic brand to the growing Chinese market.

“Our first harvest confirms the high quality of our farmed Atlantic salmon, achieving an average weight of approximately 5.7 kilograms live weight, with mortality rates of below 2%, no signs of maturation issues and a superior rate of 99%. These excellent biological results underscore Nordic Aqua’s capability to maintain superior fish health and welfare standards, which translates into premium product quality for the highly attractive Chinese consumer market,” said chief executive Ragnar Joensen in a press release.

70-80 tonnes per week

Harvest during the first three weeks will amount to 10, 20 and 30 tonnes respectively, before gradually increasing and stabilising in the 70-80 tonne per week range.

Stage 1 of the facility has an annual production capacity of around 4,000 tonnes and is the first step in an overall plan towards 20,000 tonnes. Construction for an additional 4,000-tonne Stage 2 capacity was initiated in the third quarter 2023, and the preparations for the Stage 3 expansion to 20,000 tonnes are well under way, said Nordic Aqua.

The expansion plan is supported by a strong demand for high-quality, sustainably farmed Atlantic salmon in the Chinese market, said the company.

Competitive edge

“Nordic Aqua’s strategic positioning within the local market significantly reduces logistics costs and enhances freshness, providing a strong competitive edge,” said the company’s managing director Andreas Thorud.

“The market dynamics are favourable, with the Chinese salmon market showing robust growth and high-price resilience. As the first land-based operation of its scale in China, Nordic Aqua Partners enjoy the first-mover advantage in a market with over 100 million potential consumers reachable within a five-hour distribution radius.”

The successful harvest marks a transition from the project phase to full operational status, setting the stage for continuous production and supply. As Nordic Aqua prepares to enter the most attractive seafood markets globally, it says this development is expected to attract considerable interest from a broad range of stakeholders focusing on sustainable and technologically advanced aquaculture projects.

Nordic Aqua will host a Capital Markets Day for investors, analysts and other stakeholders on September 3, 2024 in Ningbo.