Tassal Group Strategic Thoughts, page-204

Interesting point reported on salmonbuisness about inflation of food prices;

Salmon has a really low Food Conversion Ratio around 1.0 which means you get just as much usable protein out as was fed.

In theory, other food with a higher FCR should have more price pressures than salmon, and should go up faster, giving salmon an advantage.

Not sure how that will pan out in practice, it must depend if feed is being purchased, or the animal is grazing in a paddock... i guess the value of feed in the paddock still becomes more valuable even if not purchased.

I think fish have a low FCR because they are relatively simple animals, and have buoyancy, they dont use energy to fight gravity.

For comparison;

• Beef 10
• Dairy Cattle 8-13
• Pigs 3.8-4.5
• Sheep 4-5
• Chicken (broilers) 1.3-2.8
• Chicken (eggs) 2.0
• Other fish, catfish is 1, Talipai is 4.6

https://salmonbusiness.com/seb-believes-that-commodity-inflation-can-strengthen-the-salmons-relative-competitive-position/