[ EVENTS — NASF REVIEW ] important tendency of industry consolidation. Although per capita consumption of fish and seafood in the US is relatively low at 7 kg per year, while per capita consumption of beef amounts to 28 kg per year, the US annual per capita consumer spending for fish and seafood is USD 261, which equals spending for beef (USD 262). At the same time, 80 of all fish and seafood products in the USA is imported. When it comes to environmental costs per protein type including water, fertilizers, pesticides, antibiotics and soil loss, fish production shows the lowest figures compared with the production of beef, chicken, pork or dairy. Dexter Paine, Pain and Partners, presented his view on attractive investment opportunities across the seafood value chain. For example, capture fishing companies should be operating in well-managed and rationalized fisheries, while processing, informatics, marketing and distribution firms have to aim at value-added products in a special market niche. Companies in aquaculture, health, genetics and biosecurity, feed and ingredients, and production should have best-in-class farming operations in wellregulated regions and new species with strong performance and attractive markets. Selecting the right source of capital for the companies is extremely important because the right capital structure can mitigate risk, withstand volatility and support growth through challenges. The capital markets are a new industry participant, and capital structure flexibility also creates opportunities to aquire competitors during difficult periods and take advantages of unique opportunities to expand. www.eurofishmagazine.com
Global supply of salmon to increase “Salmon is currently well positioned to compete as the center of the plate item both within the seafood category and against other proteins” was one of the main conclusions at the salmon session. Chaired by Jan Trollvik from the Norwegian Seafood Council, the seminar on the global salmon outlook provided answers to some of the most burning questions for the seafood industry about the total estimated harvest for the present year and the tendencies on different markets. Lars Liabø, Kontali Analyse, presented the estimated quantities for market supply for 2012 with a total increase of 15 for Norway, Chile, UK, Canada, Ireland, Faroe and others and a total increase of 16 for the EU, USA, Russia, Japan and others compared to the estimates of 2011. “In the first two months of 2012 there were 67,000 tonnes extra of salmon supply compared to the same period of 2011, which corresponded to an additional 3.2 million salmon meals per day. The outlook for 2012 is still quite optimistic and even brighter compared with previous periods”, was the conclusion from Kontali. The analysis of the Chilean salmon industry confirmed that the situation was not an easy one for Chile, but showed that trend there was also broadly positive. In the past year, the industry experienced a rapid recovery from the ISA virus crisis, and has overcome the difficulties of the earlier period. The ISA virus crisis showed that the main problems for the industry were the short-term focus of many producers not taking into account sanitary risks
and governmental institutions that were not sufficiently prepared to oversee the sector. In terms of harvest estimated, fish transferred in 2011 will allow an extra 200,000 tonnes of mostly Atlantic salmon to be harvested in 2012, while the forecast harvest for 2013 is approximately 480,000 tonnes. Jose Luis del Rio, the chairman of Friosur, said that in general it would be a tough year for salmon farming due to low prices and high production costs. “We foresee a consolidation of the industry in Chile starting this year. Sustainable growth of the Chilean industry relies on many factors including strong cooperation between salmon producing countries. Norway and Chile need to continue working closely together for the development of the global salmon market,” he concluded.
Lower prices, higher consumption of fresh salmon in Europe Lerøy CEO, Henning Beltestad, confirmed growing salmon consumption worldwide. The total worldwide supply in 2012 is estimated at 1,867 million tonnes, which is a 15 increase from 2011. Norway expects over one million tonnes, which is a 9.9 growth from 2011. Concerning rising markets, he mentioned Russia with an increase of 50, Japan with a growth of 67 and the EU with an increase of 7. Egil Sundheim, Director of Market Information at the Norwegian Seafood Council pointed out the changes in consumer demand and salmon prices. At present, overall consumer confidence is down, and particularly the EU shows the lowest confidence since 2009. For
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Eurofish Magazine 2/ 2012
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