Thinking about fish when Iceland is mentioned may be a cliché, but it’s a significant one. The fish farming industry in Iceland is one of the world’s most sophisticated. It is driven by a mix of centuries-old expertise combined with cutting-edge technology from a nation famous for its entrepreneurial spirit. It is said among nation brand experts that a nation’s image should reflect the traits found in its DNA, because it makes for a compelling and credible brand. For Iceland, fishing goes right to the heart of what it means to be Icelandic.
Reasons to choose Iceland
There are a number of compelling reasons to choose Iceland for potential investment opportunities in local fish farming. For starters, there’s Iceland’s environmentally friendly approach. The clean water of the fjords and the sustainable sources of energy used in production, such as the excess geothermal water cast off by power plants, combine to create an ideal environment for fish farming.
Iceland benefits significantly from its long-established knowledge and expertise in fish farming. The country is already a major producer of several popular types of fish, including Atlantic salmon and cod. According to a recent report from Invest Iceland, the country’s registered fish farms mainly focus on salmon and currently include farms producing juveniles, sea cage farms, land-based farms, mussels farms and research stations.
Iceland’s ‘green’ approach
The ‘green’ approach is especially important for an industry such as fish farming, where the quality of the environment is directly reflected in the quality of the final product. Iceland strives to be clean and green in every way possible, relying on its large reserves of hydroelectric and geothermal energy, which are harnessed for use in all walks of life.
For producers, this means no carbon footprint and lower business costs. For the fish, this means better general health, reduced infection, and dynamic breeding activity. The latter happens because the fjords of Iceland are open onto the sea, providing suitable currents, good water substitution, and optimum temperatures, according to a recent report on the Icelandic salmon industry.
Total salmon production in Iceland currently stands at 7000 metric tons, but the acquisition of new licenses means that this figure is likely to increase soon. Iceland has a goal to become a key player in the fish farming industry. With Icelandic companies’ access to exciting markets in the United States and up-and-coming China, now looks like an excellent time to consider investing in Iceland’s fish farming industry.