What NOW Aquafeed?

Presenting companies: Rabobank | Veramaris | Innovafeed | Earth Worm | Cermaq | Chr. Holtermann AS | Skretting Norway

By Veramaris

The innovation landscape for alternative feed ingredients is very fertile, and great progress has been made towards adopting alternative ingredients like algal oil and insect protein into feed formulations. Regulators are starting to adapt their policies, as we have seen with the Norwegian Government Mission planning for all ingredients to be sustainable by 2034, increasing security of supply from 8% to 25%. Industry certifications already recognize alternative ingredients in their standards, enabling their inclusion. And retailers are reviewing their seafood sourcing policies, often through precompetitive initiatives. Some salmon farmers have shown great leadership by adapting their own feed specifications to include algal oil. And feed millers have all made public commitments to increasing their use of alternative ingredients. But there is still a gap to close. Achieving the necessary supply growth will require concrete actions to back up the commitments to adopting alternative ingredients at scale, even if it might mean paying a bit more at times compared to commodity prices for the same nutrients. Without such commitment, ingredient innovators may focus less on the aquafeed market and more on alternative markets for commercializing their innovations, leaving the aquafeed industry short of nutrition to sustain its valuable growth.

This session will explore what else the farmed salmon value chain can do to build reliable markets for alternative ingredients to expand into, focusing on two market-ready examples: algal oil and insect meal. Such markets are needed by innovators to continue to invest in building capacity to deliver commercially viable solutions at scale, supporting the healthy and sustainable development of salmon farming. Primary emphasis will be put on alternative sources of EPA&DHA nutrients from algae since this is the most urgent bottleneck for salmon feed. The discussion will also include insects as a new source of protein since protein sources are also limited. During this session, we will:
– Define and quantify the economic risk that industry bears on the future supply of essential nutrients: Omega-3 LC-PUFA; Protein
– Quantify the extent of industry commitments and actions already taken towards adopting algal oil and insect protein
– Showcase examples of best practice from actors throughout the value chain (NGOs, Certifications, Retail, Processing, Farmers, Feed Mills)
– Explore the factors that help or hinder industry adoption of these ingredients

Chair:

Ian Carr
Senior Director - Veramaris

Speakers

Volume and Value Risk Assessment for Essential Nutrients

Novel Sharma
Analyst - Rabobank

Based in Utrecht, Novel focuses on the seafood and aquaculture industry.
Novel brings a strong analytical background and private equity experience. In prior roles, he worked at Climate Fund Managers in The Hague and at Thomson Reuters in Hong Kong as a consultant focused on hedge funds and their investment strategies.
He holds a Master’s degree in International Finance from the Amsterdam Business School at the University of Amsterdam.

Earthworm Aquafeed Initiative

Marco Custodio
Project Manager - Earth Worm

Marco Custodio is a marine biologist with a PhD in Marine Sciences and a Master’s in Aquaculture, specializing in sustainable aquaculture. As a Project Manager at Earthworm Foundation, he leads initiatives to enhance environmental and social practices in shrimp and salmon supply chains, collaborating with French companies and their sourcing regions. An active contributor to the scientific community, he has published research on aquaculture nutrition, integrated multi-trophic aquaculture, and ecosystem services. His efforts bridge science and industry, providing actionable insights that promote sustainability and innovation in aquaculture.