Proximar Seafood has lowered its 2026 harvest guidance after deciding to harvest smaller fish in the second quarter to free up tank capacity and improve harvest weights later in the year.
The land-based salmon producer now expects to harvest 3,000-3,400 tonnes HOG in 2026, down from previous guidance of 3,500-4,000 tonnes.
The company harvested a record 697 tonnes HOG during the first quarter, but average harvest weight was 2.25kg and average realised prices were approximately NOK 54 per kilogram. Fish above 3kg achieved around NOK 75 per kilogram.
Proximar said higher-than-expected survival rates and the absence of culling had reduced available tank capacity, limiting its ability to hold fish for longer growth periods. The company plans to harvest smaller fish in the second quarter, allowing larger fish to remain in the system for a further six to eight weeks.
Chief executive Joachim Nielsen said the measures are intended to support stable production of fish above the 3kg threshold and improve profitability in the second half of the year.
The company also warned that lower-than-expected revenues and continued low harvest weights will create additional liquidity requirements. Proximar has secured a JPY 300 million (NOK 18 million) loan from a regional Japanese bank and is exploring further funding sources while seeking to refinance or extend a syndicated bank facility due in August.
Proximar reported a standing biomass of 1,880 tonnes at the end of the quarter and a grow-out survival rate of 97.6%.
