Bright future ahead for the byproduct reutilisation industry in Iceland and beyond
Fish Waste for Profit began with a session exploring what is reluctantly known as the fish ‘waste’ pyramid of value from the bottom.
Snorri Hreggvidsson, founder and owner of Margildi, spoke about the creation of high grade fish oils but waste is a term he doesn't like. It isn’t waste; it is being used for the creation of commercially viable products.
David Tomas Davidsson from Codland reminded attendees that the industry is changing and that one of the main barriers are regulations that stipulate that sidestreams such as viscera have been classified as unfit for human consumption; this means that companies such as Codland cannot even begin to produce and sell products made out of these by-products which could be sold at a higher value for human consumption. Codland wants to ensure that no part of the fish remains unused.
Jon Birgir, head of sales and marketing at Skaginn 3X said he doesn't like the term by-products either, in his view they are products plain and simple. They are useful and saleable and desirable. They are therefore products in their own right.
"The important aspect is to remember that these are products and people's main aim needs to be finding a way to maximise their value."
DTI, the Danish Technological Institute, offered a different perspective. Instead of solely focussing on fish, the speaker Karin Loft Eybye also covered the reutilisation of crustacean side streams. She highlighted the possible value of these products to the Danish economy emphasising that there is the possibility to make significant amounts from this industry.