Finance

Total cost

Biology

Agriculture

Outbreak

Macroeconomics

Engineering

Currency

Virology

Position (finance)

Economics

Geography

Microeconomics

Natural resource economics

Ecology

Scale (ratio)

Production (economics)

Production cost

Agricultural economics

Fishery

Monetary economics

Cartography

Fish <Actinopterygii>

Mechanical engineering

Aquaculture

This paper investigates the development of production costs in aquaculture of Atlantic salmon between the five main producer countries. A unique data set allows us to analyse the development in the period 2003 to 2018. Costs have developed differently between countries, with Chile and the Faroe Islands standing out with strong and different changes. Chile sees a strong increase in cost and moves from being the lowest to the highest cost producer, and then to lowest again. The Faroe Islands has the opposite development and moves from being the highest to one of the lowest cost producers. For Norway and Canada the changes are considerably smaller, while Scotland has had the most marked cost increase. For the Faroe Islands and Chile, major disease outbreaks play a major role in explaining the change in cost. Differences between countries are also related to scale, natural conditions, currency development and regulations. Results show that Norway's position as the leading salmon producing country in terms of market share seems justified by its low production cost.

Production cost and competitiveness in major salmon farming countries 2003–2018