Over-production of fish feed in Norway means Skretting has to invest in growth outside the Nordic country’s borders
With Cargill, BioMar and Marine Harvest producing feed, Skretting’s 30 percent of market share faces some stiff, deep-pocketed competition for aquafeed sales.
“We see clearly that the production of fish feed in Norway is too high,” Skretting chief exec, Therese Log Bergjold, told newspaper Stavanger Aftenblad.
For years, the company has been expanding production globally, and now produces a variety of fish feed in 19 different countries. Log Bergjold said she sees the company expanding into growing Asian, African and Latin American markets.
“Yes, we’re in a number of processes that will increase our capacity. Fish-farming is a growth industry in many countries,” she said.
The company’s research and investments in technology, she said, are what the company is counting on to stay ahead in the race to capture those markets.