Record revenue from export of Fish & Seafood - the Bonafide at the end of July 2018

Exports of Norwegian fish and seafood products are expected to reach a record 10.4 billion euros this year. In the first half of the year, companies exported 1.4 million tonnes of Fish & Seafood, worth around 4.6 billion euros. This represents an increase of 10 percent and an increase in value of 173 million euros (plus 4 percent) compared to the first half of 2017.

According to the Norwegian Sea-food Council, the increased prices for salmon and cod contributed to this excellent result. In addition, the exporters receive tailwind from the Chinese market. The Chinese government has lifted restrictions on salmon imports from three Norwegian regions. Now salmon producers from all over Norway can sell Fish & Seafood products to China. The omens are excellent and there is additional potential for the further development of the trade and for the export of Fish & Seafood to China.

Cargill is showing significant gains in animal feed and protein

During its most recent accounting year, ended on May 31, 2018, as well as in the fourth quarter of the financial year, feed giant Cargill posted a strong increase in profits, driven primarily by the animal feed and protein business. Fourth quarter operating income totaled € 695 million, up 76% from € 395 million a year ago.

Net revenues amounted to 611 million euros, more than twice as much as in the previous year (298 million euros). Animal Feed and Protein was able to outperform last year's strong performance, contributing most to Cargill's adjusted operating profit during the fourth quarter and full fiscal year.

Norway grants approval for the largest land-based salmon farm

The Norwegian company Salmon Evolution has been authorized to build a plant for the annual production of 28,000 tonnes of salmon in the Vestlandet region.
Behind the project are former executives of major salmon companies in Norway. The costs for the construction of the large farm, which should be put into operation until 2021, including rearing amount to about 320 million euros.

To the current factsheet of the Bonafide Global Fish Fund - Click Here