Nordic Aqua, a global pioneer in land-based salmon farming, with its first farm located in China, announces the production result from its first operational quarter.

Highlights:

• Total harvest volume in second quarter of 523 tonnes HOG
• First commercial harvest commenced in mid-april and harvest distribution in the quarter was:

           -  43 tonnes in April

           -134 tonnes in May

           -345 tonnes in June

• Average weight was 4,54 kg HOG
• 99 percent of the harvest volume classified as superior quality salmon

“We are pleased about the highly sustainable biology, the low mortality and the large share of superior quality. The production in the quarter was good, however somewhat affected by starving and handling related to harvesting,”, says Ragnar Joensen, CEO.

In the current phase, Nordic Aqua is actively focusing on building market distribution and brand exposure. The company is particularly working on the establishment and development of lasting customer relationships in the important premium segments in order to optimize the value achievement of our premium product, Nordic PureAtlantic.

Based on volumes in the second quarter as well as current harvest data and harvest plan, the company expects to harvest 2.800-3.000 MT HOG in 2024. This corresponds to a volume of 2.300 – 2.500 MT in the second half of 2024, which per se is somewhat higher than the annual normalised capacity of 4.000 MT for Stage 1.

Nordic Aqua strengthens commercial team with strategic new hires

In a strategic move to intensify and expand its commercial efforts, Nordic Aqua is pleased to announce two key appointments that will significantly bolster its business development, strategic partnerships, and market presence in China.

Effective October 1, Morten Westby will join Nordic Aqua as the new head of business development and strategic partnerships. Morten is a seasoned executive in the seafood industry with extensive experience in the Chinese market. He previously served as the VAP Asia Manager at Lerøy, where he played a crucial role in expanding their footprint across Asia. Morten's deep understanding of the seafood sector and his strategic acumen make him an invaluable addition to the Nordic Aqua team.

As of July 1, Vanessa Liu has taken on the role of Senior PR Executive at Nordic Aqua. Vanessa brings a wealth of experience in PR and branding particularly in the premium seafood segment within China. Her expertise will be pivotal in enhancing the brand image and marketing efforts for Nordic PureAtlantic, and ensuring the company’s high-quality land-based Atlantic salmon resonate strongly with Chinese consumers.

TORONTO /CNW/ - CULT Food Science Corp. ("CULT" or the "Company") (CSE: CULT) (OTC: CULTF) (FRA: LN0), a disruptive food technology platform pioneering the commercialization of lab-grown meat and cellular agriculture to reshape the global food industry, is pleased to announce that the Company has closed the first tranche of its non-brokered private placement ("Private Placement") of units ("Units") previously announced on June 10, 2024, raising gross proceeds of C$1,426,500 through the sale of 5,706,000 Units at a price of C$0.25 per Unit.

Each Unit is comprised of one common share in the capital of the Company (a "Common Share") and one common share purchase warrant (each a "Warrant"). Each Warrant issued under the first tranche of the Private Placement is exercisable for one Common Share at a price of C$0.35 per share until July 5, 2026 pursuant to applicable securities laws.

In connection with the first tranche of the Private Placement, the Company paid aggregate cash finder's fees of $10,500 and issued 21,000 finder's warrants (each, a "Finder Warrant") to certain arm's-length parties, each Finder Warrant being exercisable for one Common Share at a price of $0.35 until July 5, 2026 pursuant to applicable securities laws.

The net proceeds from the first tranche of the Private Placement are expected to be used to advance Noochies!, the flagship brand of the Company's subsidiary, Further Foods Inc., for marketing, and for working capital and general corporate purposes.

The U.S. Department of Homeland Security (DHS) has added another major Chinese seafood processor to the list of companies banned from exporting products to the U.S. due to forced labor issues, while also closing the door on Argentina's main source of processed red shrimp.

DHS has added Shandong Meijia Group Co., Ltd. (also known as Rizhao Meijia Group) to the list of seafood export bans to the United States under the Uyghur Forced Labor Prevention Act (UFLPA).

Two of the Shandong Meijia Group's affiliated members – Rizhao Meijia Aquatic Foodstuff Co. and Rizhao Meijia Keyuan Food Co. – are active exporters of Argentine red shrimp to customers in the U.S. and Canada.

Robert Silvers, Chairman of the Forced Labor Enforcement Task Force (FLETF) under DHS, said the United States is taking concrete steps to eliminate goods produced with forced labor from its supply chains.

Last year, the U.S. imported 31.5 million pounds of Argentine red shrimp, down from 38.2 million pounds in 2020.

According to the Southern Shrimp Alliance (SSA), 12 million pounds (32%) of Argentine red shrimp imported into the U.S. are processed in China, although still labeled as Argentine. Since January 2023, more than 265 containers of Argentine shrimp have been shipped to the U.S. by Chinese exporters.

Man Convicted of Sea-Fisheries Offences for Exceeding Quota and Under-Recording Catches

Gerald Sharkey, from Clogherhead, County Louth, pleaded guilty at Dundalk Circuit Court on July 2, 2024, to charges related to exceeding the quota and under-recording catches of Nephrops (prawns) in Functional Unit (FU) 16 during a fishing trip in June 2017. The court imposed fines totaling €20,000 for both offenses and ordered the forfeiture of €10,000 from the value of the catch.

The Sea-Fisheries Protection Authority (SFPA) inspected the fishing vessel Saint Catherine Laboure in May and June 2017, revealing discrepancies in recorded catch volumes. Despite spending a significant amount of time fishing in FU 16, the logbooks showed lower volumes of catches from this area, with larger quantities recorded from outside the area. The court heard that Nephrops from FU 16 are subject to stricter quotas and have a higher monetary value. It was alleged that catches were taken from FU 16 but recorded as being from another fishing area, exceeding the catch limit by approximately 200%. 

TEHRAN (MNA) – A total of 18.5 tons of farmed caviar and 4,600 tons of sturgeon meat were produced in Iran in fiscal 2022-23 (ended March 20), according to an official of the Iran Fisheries Organization.

“The number of caviar farms in the country increased from 16 to 20 from fiscal 2012-13 to fiscal 2021-22 to 195 farms in 22 provinces of Iran in fiscal 2022-23, of which 145-150 have undertaken mass production,” Nasser Karami-Rad was also quoted as saying by ILNA.

The major importers of Iranian caviar are EU countries, as well as China, Vietnam, Thailand, South Korea, Japan, Malaysia, Australia, Kuwait, UAE, Azerbaijan, Armenia, Lebanon, etc.

MNA/PR

Salmon Evolution ASA ("Salmon Evolution" or the "Company", OSE: SALME) had an all-time high harvest volume and strong price realization in Q2 2024.

Highlights:

• Harvest volume of 1,581 tonnes HOG.
• All-in price realization of NOK 106/kg.
• Continued excellent superior grade share of 96 %.
• Standing biomass of 2,032 tonnes LW end of the quarter.
• Expecting Q3 2024 harvest volumes of ~1,600 tonnes HOG.

“The second quarter represents a major milestone for Salmon Evolution with harvest volumes at all-time high levels in a record strong salmon market. We are very pleased to see a continued excellent superior grade share of 96%, resulting in solid price realization and further demonstrating the potential in our business”, CEO of Salmon Evolution, Trond Håkon Schaug-Pettersen said.

For further details on operational performance in Q2, please refer to the presentation.

The Q2 and first half 2024 report will be published 15 August 2024.

A Eumofa study explores the challenges and opportunities these products face at the point of sale. The sustainability and competitiveness of European aquaculture products is a key challenge for the fishing industry.

Prevalence of imports and domestic consumption

In 2021, 69% of the supply of fishery and aquaculture products in the EU came from imports, while only 11% of consumption came from Member States' aquaculture, reaching a total of 10.60 million tons.

Source: EuropaAzul | Read the full article here

Within the framework of the "WinBlue" project, Anfaco-Cecopesca and the Institute for Sustainable Business Growth (ICSEM) organize, on July 22, the 2nd Workshop “Gender Equality in the Blue Economy”. The objective of the workshop, which will take place at the Anfaco-Cecopesca headquarters in Vigo, is to promote gender equality and the empowerment of women in key sectors of the blue economy. Thus, strategies and practices will be addressed to overcome gender inequalities and seek to promote female leadership and entrepreneurship, while sharing knowledge and experiences.

Source: IndustriasPesqueras | Read the full article here

Irish fishing representatives and E.U. advisory councils are seeking to tie Norway’s access to the E.U. market – which buys around 70 percent of Norway’s farmed salmon annually – to negotiations over fishery quotas, arguing that the Norwegian seafood industry should not be able to enjoy such large access to the E.U. while also fishing unsustainably in European waters.

The Irish Fish Producers Organization (IFPO) specifically wants to stop Norway’s practice of setting unilateral quotas for North Atlantic mackerel stocks – a practice IFPO said continues to endanger the stock’s sustainability.

Author: Mark Godfrey / SeafoodSource | Read the full article here