Quarterly Public Farm Review: Q4 2025 + Special Interview
Fish n' Bits - The Aquaculture Data Intelligence PodcastShow Notes
What separates the salmon farms that thrived in Q4 from the ones still bleeding money and does it all come down to where they're located? This week, we break down the Q4 financial results from the publicly traded salmon companies, walking through EBIT per kilogram figures across the industry and unpacking why companies like Grieg and SalMar cleared 20 NOK/kg while others in Iceland and Scotland finished deep in the red. We also get into why Mowi's Norway division outperformed nearly everyone, yet the company still ranked third overall, a reminder that geography can make or break a balance sheet. Then, we sit down with Kaspar Coates and Nikolai Jensen, two Norwegian School of Economics graduates whose master's thesis is turning heads industry-wide, exploring how site-level factors like seawater temperature, sea lice pressure, and disease exposure directly tie to financial performance on the farm. For more aquaculture insights head to our Fish n' Bits blog. You can also check out Kasper and Nikolai's master thesis Investigating the relationship between site-specific biological characteristics and financial performance, in conventional open-net salmonid farming in Norway here.
More from Fish n' Bits - The Aquaculture Data Intelligence Podcast
Could improvements in salmon farming actually be putting more pressure on salmon prices? We're taking a closer look at 20 years of Norwegian production data and some unusual changes in the seasonal patterns of salmon biomass. Learn how more consistent biological performance and growing supply may be influencing salmon prices, what the cattle industry can teach us about agricultural production cycles, and why producing more fish doesn't always mean greater profitability. We also explore what Manolin's forecasting models suggest for the final quarter of 2026 and why harvest timing, biological risk, and market conditions are becoming increasingly important to farm economics. For more aquaculture insights head to our Fish n’ Bits blog.
What do the latest earnings tell us about where salmon farming is actually making money? We're breaking down Q2 results from publicly traded salmon producers around the world, and after several difficult quarters, much of the industry is back to profitability. Learn how biological performance is driving major differences between farming regions, why Canada produced one of the quarter's more surprising results, and what the latest numbers tell us about the economics of land-based salmon. As land-based producers move beyond proving they can grow fish at commercial scale, a new question is taking over: can they consistently grow the right fish, at the right size, at a cost that makes the economics work? For more aquaculture insights head to our Fish n’ Bits blog.
Could a strong El Niño make one of Chilean salmon farming's most persistent disease challenges even harder to manage? We're taking a closer look at SRS and the potential risks facing Chilean salmon producers as warmer conditions develop ahead of the Southern Hemisphere summer. Learn what makes SRS particularly difficult to prevent and treat, how temperature can influence the spread and severity of the disease, and what happened during previous strong El Niño events. We also explore how better monitoring, new health solutions, and predictive models are giving producers more information to identify changing risks and act earlier. For more aquaculture insights head to our Fish n’ Bits blog.
What does it take to turn a microscope slide into data that AI can actually use? We're joined by the CEO of Histo Company, Lene Sveen, to explore what happens when fish tissue moves from the farm to the lab and eventually becomes a digital image. Learn what histology can reveal about fish health, why preparing and interpreting tissue samples is more complicated than it looks, and how differences in laboratory methods can create challenges for standardization. We also look at the growing role of digital histology and AI, and why better data and more consistent processes may be just as important as the algorithms built on top of them. For more aquaculture insights head to our Fish n’ Bits blog.
How high could fishmeal and fish oil prices go if Peru faces another major anchovy shortage?