Ningbo land-based salmon Phase 2 begins production; Nordic Aqua harvests 1,838 tonnes in Q3, annual capacity rises to 8,000 tonnes

Nordic Aqua Partners, a land-based salmon farmer in Ningbo, completed the first harvest from Phase 2 of its recirculating aquaculture system (RAS) facility in Q3 2026, with Atlantic salmon (Salmo salar) harvests for the quarter reaching 1,838 tonnes (head-on gutted, HOG), up about 192% from 630 tonnes in the same period of 2025 and above the company's earlier guidance range of 1,400–1,600 tonnes. With the first two phases built and in operation, the company's annual harvest capacity has reached 8,000 tonnes HOG, with almost all output supplied to the Chinese market.

The jump in output came directly from the first harvest at the Phase 2 facility. Biomass production in Q3 was 2,233 tonnes live weight, and as of the end of September 2026, total biomass held in the systems was 5,662 tonnes. The average harvest weight for the quarter was 4.4 kg HOG (about 5.3 kg live weight), with 95% of harvested fish achieving superior-grade quality.

Revenue scaled with sales volume, but profitability has yet to turn positive. Q3 turnover was EUR 11.3 million (USD 12.52 million), up from EUR 3.5 million (USD 3.88 million) in the same period of 2025; EBIT was a loss of EUR 2.1 million (USD 2.33 million), a marked narrowing from the operating loss of EUR 4.8 million (USD 5.32 million) a year earlier. The company also noted that pressure on international market prices limited profit margins.

Both price and cost improved. The average realised sales price in Q3 was EUR 6.29/kg (USD 6.97/kg), up from EUR 5.50/kg (USD 6.09/kg) a year earlier; farming production cost fell from EUR 9.45/kg (USD 10.47/kg) to EUR 6.36/kg (USD 7.05/kg), which the company attributed to economies of scale and improved operational efficiency.

On the market side, management said China's Atlantic salmon imports rose 32% year on year in the first nine months of 2026. The company sells under the Nordic PureAtlantic brand, emphasising the freshness and proximity advantages of local production compared with chilled salmon airfreighted from traditional farming countries.

On full-year guidance, the company targets a 2026 harvest of 5,700–6,000 tonnes HOG and an 8,000-tonne target for the 2027 operating cycle. A planned Phase 3 would raise total site capacity to 20,000 tonnes HOG per year, but whether to proceed depends on a final investment decision; if approved, construction is scheduled to begin in 2027, with commercial harvests expected to start in 2029.