A resurgence of business in Eastern Europe after a temporary Russian market exclusion in late 2017 and early 2018, and fresh growth in the EU led sales for Faroese salmon farmer Bakkafrost during the fourth quarter of 2019.

With the integration of The Scottish Salmon Company in October, the EU now accounts for 59 percent of Bakkafrost's sales, up from 44 percent, and Eastern Europe 9 percent, up from 6 percent in the fourth quarter of 2018.

Bakkafrost CEO Regin Jacobsen previously told IntraFish that this growth was expected, thanks to re-admittance to Russia, but that the company's previous reliance on the region would not return to priot levels, a resolution that will no doubt be strengthened by Russia's fresh ban on the company earlier this month.

While growing Bakkafrost's presence in Europe, the SSC acquisition has diluted the importance of the US and Asian markets to Bakkafrost, which now stand at 17 percent and 15 percent, respectively, down from 26 percent and 24 percent in the fourth quarter 2018.

Excluding acquisitive growth, Eastern Europe was actually the only market that grew for Bakkafrost, representing 14 percent of the company's Faroes-produced salmon, up from 6 percent in the fourth quarter of 2018.

But the picture shifts when you look at fresh salmon sales alone, where the SSC acquisition once again places the EU at the top of the list, but reveals most organic growth (excluding SSC sales) in Asia and Eastern Europe with 29 percent and 17 percent of sales, respectively.

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Scottish Salmon Company deal shifts market reliance for salmon producer Bakkafrost