While Norwegian fish farming is a relatively new, fast growing export industry strongly dependent on trade, Norwegian agriculture is oriented towards a limited domestic markets, with increasing foreign competition. While both industries are subject to spe cial types of risks as biological productions, the exposure to market risk and the availability of risk management strategies are different. Comparisons between the two industries would benefit the understanding of risk exposure and possible strategies for risk management in both and be advantageous to producers, analysts, and policy makers. Through the suggested strategic programme the NILF c an continue and strengthen its development towards a leading economic research institute for the Norwegian food sector, including seafood. The programme has following main tasks: (1) Analysis and comparisons of risk exposure and risk management strategies in agriculture and aquaculture, and (2) analysing and developing methods for within-firm risk management and methods for risk-sharing. Qua lifying research (aim two Ph.D and two post doc.) and strengthened contacts to outstanding foreign universities and national research institutions are important aims. To strengthen the programme we will search for additional financing from different sourc es (industry, government etc.).