Lerøy reports 10% year-on-year fall for Q2 harvest

The Lerøy Seafood Company today reported that its second quarter harvest will be more than 3,000 tonnes lower than last year – and 7,000 tonnes down on the April to June period two years ago.

In a trading update the volume of salmon and trout for Q2 2023 was 29,700 tonnes against 33,100 tonnes in Q2 2022, a fall of just over 10%. The total harvest for Q2 2021 was 36,700 tonnes.

The figures do not include volumes from Scottish Seafarms, in which the company has a half share. They should become available in August.

Harvest volumes for the Norwegian regions are:

  • Lerøy Aurora: 8,300 tonnes
  • Lerøy Midt: 10,000 tonnes and
  • Lerøy Sjøtroll, 11,400 tonnes, of which 3,700 tonnes was trout.

Earlier this year Lerøy reported a 2023 26% higher first quarter turnover of NOK 989m (£72m).

CEO Henning Beltestad said, at that time, that he was still not satisfied with the performance from fish farming, adding that the company will be implementing a number of measures that he expected to gradually yield results.

He said the demand for seafood remained strong, but pointed out that although spot prices for salmon were significantly higher than a year earlier when measured in krone, they were lower when it came to euros.

The value of the krone has fallen by around 14% over the past 12 to 15 months.

Lerøy also owns one of Norway’s largest trawler fleets known as Lerøy Havfisk). The Q2 catch volumes totalled 23,700 tonnes of which 3,700 tonnes was cod.

This compares to a catch volume of 18,600 tonnes a year ago. However, Norway’s deep sea fishing fleets are facing a 20% reduction in cod quotas in the Barents Sea later this year.

The full 2023 Q2 report will be published on 23 August.

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