Nordic Aqua resumes salmon sales in China as operations stabilize, targets larger harvest weights
Nordic Aqua Partners reported strong operational progress in the first quarter of 2025, resuming sales of Atlantic salmon to the Chinese market following operational adjustments to address off-flavour incidents.
The company harvested approximately 200 tonnes head-on gutted (HOG) during the quarter, with an average weight of 6.2 kilograms HOG (7.5 kg live weight), achieving average prices around €9 per kilogram. The company is revising its production strategy to target a harvest weight of 5.8 kg HOG (7.0 kg LW), aligning with the Chinese market’s preference for larger fish.
Overall biological performance remained robust across all batches, with high survival rates, low mortalities, and no signs of early maturation, according to a stock market update from the company. Total biomass production during the quarter was 933 tonnes, with March production contributing 461 tonnes. Biomass at the end of the period stood at 2,805 tonnes.
“We are pleased to announce that the sale of Atlantic salmon at our Ningbo facility is back on track and stronger than ever,” said CEO Ragnar Joensen. “With comprehensive corrective actions now in place, the facility is fully optimized for sustainable, high-quality salmon farming, and the company is reengaging with partners and customers.”
The company secured bridge funding during the quarter through a €13 million short-term credit facility to support ongoing operations and development.
Nordic Aqua said construction of its Stage 2 expansion at Ningbo remains on schedule, with the first eggs inlay completed in September 2024 and the first harvest expected in the third quarter of 2026.
The expansion will more than double capacity to 8,400 tonnes LW annually. The company is also finalizing investment details for Stage 3, targeting a long-term production goal of 20,000 tonnes HOG.
Nordic Aqua Partners operates China’s first fully integrated land-based recirculating aquaculture system (RAS) for Atlantic salmon, and is listed on Euronext Growth under the ticker NOAP.