Cermaq profit dipped due to lower prices
Cermaq, one of the world’s biggest Atlantic salmon farmers, made reduced net income for the nine months ending December 31, 2025, compared to the same period the year before.
Cermaq farms in Norway, Chile, and in both Atlantic and Pacific Canada and is owned by Mitsubishi Corporation. The fish farmer made 7.1 billion Japanese yen (¥) - £33.3 million - from April to December, down from ¥8.1bn in the first nine months of the previous financial year.
In the first three quarters of the financial year, Cermaq sold 72,215 gutted weight tonnes of salmon produced in Norway, 70,815 gwt grown in Chile, and 5,532 gwt farmed in Canada.
Soft prices
“Prices remained soft in the European market through August 2025, reflecting a significant increase in supply, driven by strong biological performance in Norway,” Mitsubishi wrote on a presentation document.
“However, beginning September, supply fell below the prior-year level, improving the supply-demand balance and prompting a price rebound. This gradual recovery continued through to year-end, with prices reaching NOK 100.88/kg at the end of December.
“In the US fillet market, prices remained soft through November, reflecting an increase in supply from Chile underpinned by strong biological performance. However, stronger year-end demand in December drove a sharp market rebound, with prices rising to US$6.55/lb at month-end.”
