Salmon Group signs aquafeed agreement

The group has extended its feed agreement with BioMar and Skretting for five years at NOK 22 billion (USD 2 billion).

Credits: Salmon Group
April 27, 2023

Salmon Group has extended its feed agreement with BioMar and Skretting for five years.

“In a time characterized by geopolitical unrest, a weak Norwegian krone, scarcity of important input factors, and, not least, climate scientists believing that we will not be able to limit global warming to 1.5°C, long-term and strategic collaboration with our most important suppliers is more important than ever,” said the head of procurement and sustainability at Salmon Group, Christine Lyngsgård Larsen. “Our two main suppliers, BioMar and Skretting, have delivered well over time and consolidated their position by delivering very good offers in this process. This has given us the confidence to award longer agreements.”

“First and foremost, long-term contracts provide more stability and predictability for both parties, which stimulates comparative conditions and efficiency gains for both buyer and seller,” Salmon Group said. “This form of contract also gives us better time and more leeway to intensify our work to introduce even more sustainable raw materials into the Salmon Group recipe, as well as to ensure that human and labor rights are safeguarded in the feed's value chain.”

Salmon Group is working to develop more sustainable feed and looking for methods to reduce the feed's climate footprint and increase the degree of self-sufficiency. “A lot of good work is being done towards the goal of reducing the climate footprint in the industry, regardless of whether you are a supplier or a customer. We look forward to working with forward-looking suppliers on this common goal,” Salmon Group concluded.