Salmon surplus spoils Canadian prices
In its latest financial report, Marine Harvest reported a drop in its operational EBIT from its Canadian operations from NOK 10.20 (~€1.18) per kilo during the last quarter of 2013 to NOK 3.69 (~€0.43) during the same quarter in 2014. For the full year, the results weren’t that different - falling from NOK 10.19/Kg in 2013 to NOK 9.40 (~€1.09) in 2014.
Lower prices and delayed harvesting were largely behind the Q4 ’14 comparative results - factors that were enhanced by an increase in the supply of Atlantic salmon in the Americas of 25,500 tonnes during Q4 alone - most of it from Chile.
Marine Harvest cited strong cost performance as a factor in determining the financial results in Canada for the last quarter of 2014, when prices in North America were down by 25.8% compared to the same period a year ago. Norwegian salmon sold into this market was simultaneously sold for 15.8% less than the year before. Marine Harvest doesn’t sell any of its production under long-term contracts in Canada, while the parent company markets between 12 and 90% of its salmon products this way. in other countries.
The percentage of processed fish graded as superior (premium) from Marine Harvest’s Canadian operations was 88% during Q4 ’14 - the same as the average for the calendar year. Other regions saw a superior rate of anywhere between 88 and 93%.
