Opponents to salmon farming have had quite a bit of success in previous years. They successfully shut down the salmon farming industry in Washington and encouraged celebrities to avoid using services from the British Columbia salmon farms. These motivated individuals even talked Patagonia, the apparel giant, into launching a huge campaign against this industry. —
Even though the above-mentioned victories grabbed the attention of the headlines for a few news cycles, there’s still no denying the importance of salmon farming. The stories haven’t put a damper on production, technological advancements, or profits in this sector, either.
The facts above were further solidified after the analysis created by demi Korban regarding the market caps of the largest stock listed salmon farmers in the world showed that when combined, they make up over $34 billion. The largest salmon farmer in the world, Mowi, accounts for approximately $12.9 billion of this alone and posted yet another record-breaking quarter of earnings recently. Even though some of the other shares of salmon farms to a bit of a beating after seeing mixed results, it’s considered a blip when compared to the steady bull run that these companies have been on in recent months.
Another sign of the salmon farming industry’s permanence and its evolution is the upcoming AquaNor trade show. The assistant director-general of FAO, Arni Mathiesen, stated his brief stroll around the floor at the show to see the technology advancements for sustainable production and fish health was nothing short of “amazing.”
Aquaculture is an industry where people are still able to make a lot of money in a short period of time and this is due to, in part, the advancements in technology that are appearing.
Even though the worldwide protein gap, along with the alignment of the sector with the UN’s Sustainable Development Goals are well-known talking points at most executive presentations, there’s real truth behind them. In virtually all measures, it is becoming much clearer that aquaculture is something that offers a much more sustainable protein than any other main farmed animal. Salmon is the leader in every way.
At the recent Salmon Summit, which hosted the Norwegian Fisheries Directorate, along with other speakers, highlighted the rapid evolution, illustrating how companies along with governments are taking risks to apply new technology that allows the salmon to be grown in both new and unprecedented ways that are also more environmentally friendly.
Some of the treats that face agriculture, such as disease, are always going to exist, but with the ability for salmon farming to adapt to those threats, it’s easier to mitigate them than ever before. It’s not possible (at the moment) to grow chickens in an offshore cage, but it is possible to do this with salmon.
While the salmon farming industry still has a lot to learn, the history of it stretches back for more than 50 years. Right now, it’s the “toddler stage” and the industry is learning how to talk, walk, and reason, but accidents are going to occur along the way.
While it’s expected that criticism of this industry is going to continue, it’s also clear that it’s one that’s not going anywhere any time soon. Learn more from GSI about what the future holds for this growing industry.
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