Gigante 'sees potential to improve' after low price achievement in Q1
The price the land-based farmer received for its fish was below the average spot price in the period. The explanation probably lies in the average weight of the fish harvested.
In an operational update, Norwegian land-based fish farmer Gigante lists the following key figures from its operations in Q1:
- Harvested volume 930 tonnes (head on gutted).
- Harvested fish had an average weight of 2.8 kg HOG, with a 76% superior share and an economic feed factor of 1.19.
- Realised price was NOK 78 (£6.12) per kilo HOG.
According to LandbasedAQ's calculations, the average spot price (all sizes) in Q1 was NOK 85.60/kg. However, even for the 2–3 kg weight class, the average spot price was higher, at NOK 81.61/kg (data source: Akvafakta).
Stable operations
"We are delivering a first quarter with stable operations and good progress in the facility. Production is developing as expected, while we see both potential for improvement and optimisation in operations," said chief executive Kjell Lorentsen.
By the end of the first quarter, Gigante Salmon had accumulated a standing biomass of a total 2,700 tonnes in its flow-through facility on the island of Lille Indre Rosøy, in Rødøy municipality, on the Helgeland coast.
The Autumn 2024 accounts for 1,000 tonnes of the total biomass, with an average weight of 3.7 kg. Harvest for the rest of the Autumn 2024 generation is planned for the current quarter.
The Autumn 2025 generation accounts for 1,700 tonnes of the total biomass, with an average weight of 0.8 kg, and is planned for harvest from Q4 2026 to Q2 2027.
In total, the company plans to stock 3.3 million smolt during autumn 2026.
The full Q1 report will be published on April 21.
