Investment banker wont be suprised if land-based production “reaches Chilean levels” by end of decade

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Seafood analyst Christian Nordby at investment bank Kepler Cheuvreux believes Norway will still dominate.

In an editorial in the business magazine Kapital, Nordby looked into the crystal ball for land-based salmon farming.

“New projects for salmon production on land are mentioned steadily in the newspapers. We won’t be particularly surprised if land-based production corresponds to Chilean production (25-30 per-cent of global supply) at the close of this decade,” Nordby wrote.

Investment banks estimate Chile to reach a harvest volume of 702,000 tonnes of Atlantic salmon by 2021.

Nordby, however, had a caveat to their predictions.

“But it depends on what happens to the costs in the sea in Norway and what the Norwegian authorities are doing when it comes to new technology. If the authorities get on board and facilitate sites that are closed containment, offshore or partly land-based, then we may still be in a position where Norway is dominant on the production of salmon over the next few decades,” said Nordby.