Grieg impacted by low oxygen levels in British Columbia

A trading update released by the company indicates increased fish mortality rates in its British Columbia salmon farming operations, attributed to low seawater oxygen levels.
Aerial view of fish farming in British Columbia, Canada.

Aerial view of fish farming in British Columbia, Canada.

Photo: Adobe Stock.

Grieg Seafood has released a trading update for the second quarter of 2024, showing an overall drop in harvest volumes compared with last year.

Grieg Seafood's harvest volume for the second quarter of 2024 reached approximately 15,300 tonnes GWT - a significant drop of 38.5% compared with last year's second-quarter volume of 22,600 tonnes GWT.

Grieg's operations in British Columbia had a particularly difficult second quarter, with low seawater oxygen levels during May leading to increased mortality rates. However, Grieg's total British Columbia salmon production during the second quarter showed an increase compared to last year, rising to 8,600 tonnes compared with 5,500 tonnes in Q2 2023.

In Norway, Grieg reported 2,800 tonnes harvested in Rogaland, and 3,900 in Finnmark, compared with last year's 11,500 and 5,600 tonnes respectively.

In the first quarter of this year, Grieg reported improved results in its Norwegian operations, particularly due to Rogaland's "strong biological performance", after "a challenging 2023", as CEO Andreas Kvame said at the time.

The company will release its full Q2 2024 report on Wednesday 21 August.

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