In 15 years, seafood has increased 19 fold its value: “I had to double check that the numbers were correct”

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Fifteen years ago fishing and farming was a sector of particular interest on the Oslo Stock Exchange. This is no longer the case.

“In 2005, the seafood sector at the Oslo Stock Exchange was priced at NOK 16 billion (EUR 1.6 billion). Now it is at NOK 304 billion (EUR 30.4 billion). That is a 19-fold increase,” said Pareto Securities’ CEO Christian Jomaas.

11 percent
The Pareto summit in Bergen is in its last and final day at the North Atlantic Seafood Forum, where the investment bank is a co-organiser.

Today, the seafood sector accounts for 11 per cent of the total index, compared with one per cent back in 2005, Jomaas pointed out.

Seafood has also dominated the return of companies that have raised money and traded on the stock exchange during the period.

“Four of the top ten come from seafood. Best is Lerøy, with a return of more than 2,100 per cent,” he said adding: “I had to double-check that the numbers were correct”.

Entire value chain
But the party does not stop here, the investment bank believes that this has dominated corporate finance assignments during this period.

“We believe in continued growth. We believe there is a lot of growth going on throughout the value chain. We believe there is a lot of consolidation that will be done. And we believe in growth in new and sustainable products – from both onshore and offshore plants,” he added.