New Zealand King Salmon managing director Grant Rosewarne.

NZ King Salmon considers plans to mitigate seasonal temperature fluctuations

Aquaculture firm New Zealand King Salmon expects its profits from fiscal year 2018 are "at the upper end or slightly above" guidance, although a hot summer has curbed expectations for volumes available for both this year and 2019.

Meanwhile, the company continues discussing plans to relocate its farms to cooler, deeper waters within the Marlborough Sounds Sounds.

"These plans are important because they would help mitigate the effects of seasonal temperature fluctuations," managing director Grant Rosewarne said in the statement, BusinessDesk reported.

The executive pointed out that these plans are intended to improve environmental, social and economic outcomes, and allow testing of new technologies.

The CEO stated that about half of the company's Marlborough farms were of no use because they were developed decades ago before all the requirements of fish farming were understood, and were in areas where water was too warm or too shallow.

A report that the Ministry for Primary Industries published in February recommended relocating the farm in Otanerau Bay in Queen Charlotte Sound to Tio Point in Tory Channel; the farm in Waihinau Bay to Richmond Bay South, both in Pelorus Sound; and the farm in Ruakaka Bay to Horseshoe Bay in Pelorus Sound.

The report, devised by an independent panel, also considered three other salmon farms - one in Forsyth Bay and two in Crail Bay - but did not recommend they be moved.

There are currently 12 sites in the Marlborough Sounds which have resource consent for finfish farming, with all but one operated by King Salmon.

In addition, the panel warned that the minister should be aware of the depth of public opposition and that the salmon farming industry is going to find its future difficult through the Resource Management Act and resource planning processes, Stuff informed.

NZ King Salmon CEO highlighted that another big change already well underway was the importation of processed and sliced Atlantic salmon from Canada and Norway and clarified the processed product avoided any biosecurity issues.

Rosewarne expects the company would increase imports for local sale to about 1,500 tonnes over the next year or so. The company harvests about 8,000 tonnes annually and sells half of it overseas.

The good depth of water in the Marlborough Sounds allows adequate space between the pen and seabed, allowing tidal dispersion of wastes.

NZ King Salmon is on track to post a NZD 25 million annual profit from its eight farms despite tonnes of fish dying due to hot weather last summer.

The losses prompted the company to import stock to maintain sales, and seek NZD 116,000 from a Ministry for the Environment waste fund to develop processes for dead fish and fish faeces.

NZ King Salmon announced it would continue its annual investment of about $13m to improve performance "and unlock the full environmental and economic potential from the existing farm consents".

The company produces four main brands brands - Ōra King, Regal, Southern Ocean, and Omega Plus, as well as the New Zealand King Salmon label. It employs about 500 people.

Related article:

- Advisory panel recommends to relocate three salmon farms

 
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