Of this increase, 11.7% was due to higher selling prices, related to higher raw materials prices which were passed through. A volume increase of 3.5% was driven by the growth in fish feed, according to the company. Revenue in fish feed increased 19% in the third quarter of 2011 compared to 2010, mainly due to a volume growth of 12.3%. The price effect was 5.3%. Salmon feed volumes increased due to strong performance in Norway and a recovery in Chile.
Overall, Nutreco said its strategic agenda includes capitalizing on its leading fish feed positions and diversifying by expanding in new regions and into feed for shrimp in other species. It also hopes to focus on markets in China, Brazil and Russia, and sell as develop sustainable businesses in Western Europe and North America.