A 7kg salmon from China, a tax advantage from Beijing, and a queue of stunned Norwegian executives—Ragnar Joensen’s surprise move at the North Atlantic Seafood Forum wasn’t just about proving a quality issue was fixed. It may have been a sign of what’s to come for the global salmon industry.
Joensen, the CEO of Nordic Aqua Partner and a Faroese aquaculture veteran with nearly two decades at Marine Harvest (now Mowi), took to the stage at NASF with two massive 7kg salmon in hand. The goal? To showcase Nordic Aqua’s recovery from its geosmin issue, which had forced the company to pause sales for six months.
But the reaction was something else entirely.
Norwegian and international delegates—including industry leaders—formed a queue to grab slices of the Chinese-grown, land-based salmon.
For an industry that has long relied on Norwegian, Scottish, and Chilean exports to supply China, the symbolism was impossible to ignore.
A System Built for Disruption
Nordic Aqua’s return to the market isn’t just about overcoming an off-flavour issue—it’s about the systemic advantages China’s land-based salmon industry could begin to enjoy.
“It’s a little bit different from what is happening in Norway!” Joensen remarked, referring to China’s generous incentives for land-based salmon farms, which include:
- 40% of construction costs covered by local government
- A corporate tax rate of just 12.5% for land-based aquaculture—far below the rates seen in Norway
- Nordic Aqua’s site is also strategically positioned within a five-hour drive of 100 million consumers, eliminating the need for costly airfreight imports from Europe and South America.
A Threat to Norwegian and Scottish Salmon?
For years, China has been a major buyer of European and Chilean salmon, particularly larger, premium fish. Nordic Aqua’s 6kg gutted-weight salmon puts it in direct competition with Norwegian producers, who have traditionally commanded a price advantage over smaller fish from Chile and Australia.
Now, with government backing, tax breaks, and no import costs, Chinese land-based salmon may be on the verge of competing with the best Norwegian and Scottish salmon.
Of course, production is still tiny, but if the model proves a success it may herald a major shakeup of salmon production and distribution.
Joensen’s dramatic demonstration at NASF may have been about geosmin recovery—but it also sent a clear message.
Nordic Aqua has solved its flavour problem and is back in the market. But the real story is whether this model—with local production, government support, and tax incentives—will mark the beginning of China reducing its reliance on imported salmon altogether.
If that happens, Norwegian producers may soon face a very different competitive landscape—one where China is no longer just a customer, but a full-fledged competitor. If that sounds improbable, just ask the auto industry how that story ends.
