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Norwegian feed sales collapsed in March 2024

The latest sales statistics for feed in Norway for March depict a significant decline of 16.4% compared to the previous year.

In our Weekly Salmon Outlook, our analysts gives you weekly updates and outlooks from the salmon industry.

Such a sharp drop in feed sales hasn't been witnessed since 2016, highlighting the considerable challenges farmers have been facing in the last quarter.

Factors such as cold sea temperatures, winter ulcers, and an influx of string jellyfish are expected to adversely affect harvests and weights in the near to mid-term. Consequently, our production forecast for 2024 in Norway has been further adjusted downward, with feed consumption expected to experience negative growth in April 2024. As a result, the updated forecast for FY2024 is now below 1.5 million tonnes, indicating only marginal Y/Y growth of +1%. This includes a decrease in average harvest weight of -1% compared to FY2023.

The standing biomass of Atlantic salmon in Norway per end of March is down close to -2% Y/Y !

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