Russian salmon-farming initiative “not a threat”
Russia has for many years been by far the largest export market for Faroese salmon farmers.
This salmon export forms an essential part of the entire Faroese economy.
But now Russia is planning to increase the country’s land-based and offshore salmon farming activities.
The plan is to increase salmon production to 180,000 tonnes by 2030, which is roughly three times the total Faroese salmon production.
Not a major concern
This may sound gloomy to Faroese salmon exporters, but they do not appear worried over the news.
The reason is that demand for salmon is growing at the same rate as production.
Atli Gregersen, CEO of salmon farming company Luna, says the Russian initiative just counts as another competitor among so many others.
“Extra competition from Russia is of little concern in the short term,” he says. “However, in the long term it is important that the Faroese salmon industry and the relevant authorities ensure that they remain competitive in an increasingly tough international trade environment.
Translated by prosa.fo