Fuji Atlantic Salmon - Proximar Seafood's brand - has been positively received in the Japanese market, with positive feedback on the quality and taste.
Photo: Proximar Seafood.
In its sixth operational update following the start of Atlantic salmon production at its Oyama facility in Japan in October 2022 and the September 2024 first harvest, Proximar Seafood announced it managed to solve the challenges resulting from the two biofilter incidents of Q4 2024 without mortality.
Thus, at the end of the fourth quarter of 2024, the Norwegian land-based salmon producer had a standing biomass of 1,058 metric tons, compared to 735 metric tons at the end of Q3. This is 43.94% higher than in the company's last quarterly report when it more than doubled its biomass compared to the previous quarter.
Proximar experienced two biofilter incidents in Q4 2024 and, as reported by WeAreAquaculture, due to priorities related to the handling of the one in November, it was forced to lower its harvest volume forecast.
As mentioned, no abnormal mortalities have been recorded in any of these incidents, although feeding has been reduced to maintain water quality. Therefore, the ~50 ton deviation in harvest volume from previous guidance in Q3 2024 report is related to the deferral of volumes from December 2024 to January 2025.
On a positive note, Proximar highlighted that the implementation of the ozone system has solved the high turbidity problems in the water. However, reduced feed due to those turbidity problems and biofilter incidents have affected growth rates accordingly.
"Unfortunately, we experienced two incidents in Q4 related to construction- and material weakness. However, our team has resolved these challenges without any mortality, which is impressive. We are now taking measures to repair the damages and will also review the rest of our facility to address any weaknesses and take necessary action where needed," said Joachim Nielsen, CEO of Proximar.
Prior to the biofilter incidents, feeding had resumed at normal levels and performance was good. Now, apart from the reduced feeding, mortality remains low and fish health continues to be good, so Nielsen said that, as for the biological performance and water quality, they remain optimistic on their production going forward.
Currently, the Norwegian land-based salmon producer in Japan has 20 batches and approximately 2.0 million individuals in production. The long-term target harvest level for Proximar is 5,300 tons (HOG) per year in Phase 1, and, based on system performance and biology, it remains on track to reach target utilization in 2027.
During Q4 2024, Proximar harvested 28 tons (HOG), achieving an average net selling price of NOK 123 (EUR 10.46 / USD 10.77). According to the company's release, the feedback has been very positive, confirming the good quality and taste of the product. The average weight of the harvested salmon was approximately 4.17 kg (HOG), with 99.9% of the fish being of superior grade.
"We are very pleased about a fantastic start of sales and very well received fish in the market. The price achievement and feedback clearly show how Fuji Atlantic Salmon has been positively received in the Japanese market. The feedback on the quality and taste is very positive, and we are looking forward to supplying more volumes as we now enter 2025," Proximar CEO explained.
