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FARMING

Norwegian salmon farmer posts record profits

Norwegian salmon farming giant Marine Harvest has posted its highest profit ever on the back of record high salmon prices and solid growth.

Published: 5 February 2014 12:06 CET
Norwegian salmon farmer posts record profits
Salmon - Norsk Havbrukssenter
The company's core earnings (stripping out interest and taxes) of 1.03 billion kroner ($164m), compared to just 64m NOK ($10m) in 2012. 
 
"2013 was the best year so far for Marine Harvest, with all-time high revenues and annual operating profit," chief executive Alf-Helge Aarskog said in a statement. "Both Scotland and Canada have record year for profit. We congratulate the teams responsible for the achievement." 
 
The company announced a quarterly dividend of NOK 1.20 per share, and promised to use acquisitions to bolster its share of the lucrative market.  
 
""Within farming, Marine Harvest will pursue selective acquisitions in Norway and Chile in order to substantially increase the global share of production from the current level of about 22 percent," the company said in a statement. 
 

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POLITICS

France vows to block EU-South America trade deal in current form

France has vowed to prevent a trade deal between the European Union and the South American Mercosur bloc from being signed with its current terms, as the country is rocked by farmer protests.

Published: 31 January 2024 15:46 CET
France vows to block EU-South America trade deal in current form

The trade deal, which would include agricultural powers Argentina and Brazil, is among a litany of complaints by farmers in France and elsewhere in Europe who have been blocking roads to demand better conditions for their sector.

They fear it would further depress their produce prices amid increased competition from exporting nations that are not bound by strict and costly EU environmental laws.

READ ALSO Should I cancel my trip to France because of farmers’ protests?

“This Mercosur deal, as it stands, is not good for our farmers. It cannot be signed as is, it won’t be signed as is,” Economy Minister Bruno Le Maire told broadcasters CNews and Europe 1.

The European Commission acknowledged on Tuesday that the conditions to conclude the deal with Mercosur, which also includes Paraguay and Uruguay, “are not quite there yet”.

The talks, however, are continuing, the commission said.

READ ALSO 5 minutes to understand French farmer protests

President Emmanuel Macron said Tuesday that France opposes the deal because it “doesn’t make Mercosur farmers and companies abide by the same rules as ours”.

The EU and the South American nations have been negotiating since 2000.

The contours of a deal were agreed in 2019, but a final version still needs to be ratified.

The accord aims to cut import tariffs on – mostly European – industrial and pharmaceutical goods, and on agricultural products.

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