New record for the county's caviar producers
But Russian caviar is not a big competitor
Torbjörn Ranta, CEO of Arctic Roe of Scandinavia, notes that the boycott of Russian caviar was felt well before the invasion of Ukraine. The primary competition now comes from Chinese producers, who flood the market with cheap caviar. In contrast, European production, particularly indoor farming, is significantly more expensive.
The sturgeon farm in the old paper mill in Strömsnäsbruk requires a substantial amount of electricity to operate. Last year, Arctic Roe of Scandinavia broke a production record, reaching almost 400 kilos after expansion efforts. With the completion of a fourth pool module, even more sturgeons will soon be accommodated.
Sales have increased by approximately one million kroner annually, and last year, turnover reached SEK 2.9 million.
"That's positive, of course," says Ranta, "but our costs, including inputs and electricity prices, are also rising, so we haven't achieved profitability yet. We need to increase revenue by another million or more this year. I hope we can manage."
Most of the caviar is sold to high-end Swedish restaurants with a sustainability focus, with a smaller portion available in grocery stores. Last year, Arctic Roe of Scandinavia also began selling directly to consumers through its own webshop and secured their first export customers in Norway, Japan, and the Netherlands.
“We anticipate that more fish farmers will enter the market, but mastering the process of keeping the fish alive while also producing caviar from the same fish takes time to learn. We believe we will be quite alone in that niche for the foreseeable future.”
The number of investors supporting and financing the company's development has surpassed one hundred. Ranta views these shareholders more as ambassadors for the company than typical investors seeking to maximize returns.
"We are live harvesters; that's what sets us apart from most others. This is our competitive advantage. While we expect many more fish farmers in the market, managing both the health and caviar production from the same fish is a considerable learning curve. We believe we will maintain a unique position in this niche for some time."