Salmon prices plummeted in June, and Movistar's second-quarter results fell short of expectations

In the second quarter, Movi harvested 110,000 tons of Atlantic salmon with a profit margin of €2.08/kg; of which the production in Norway was 59,500 tons with a profit margin of €2.5/kg, Scotland 19,500 tons (€2.20/kg), Chile 14,500 tons (€0.85/kg), Canada 9,500 tons (€0.70/kg), Faroe Islands 2,500 tons (€4.15/kg), Iceland 1,500 tons (€0.95/kg). Fearnley Securities analyst Nils Thommesen said that the decline in spot prices in the second quarter was the main reason for the decline in profit margins, and there was also a chain reaction from winter challenges and harvest impacts. Although the profit margin in the Norwegian production area was lower than expected at €3.21/kg, the decline in breeding costs is beneficial to salmon profits in the future. In the first quarter of this year, the breeding cost of Movi fell by €0.21/kg, and with the increase in production, the cost is expected to fall further in the second half of the year. The cost in the past 12 months may represent a ...