Jellyfish scourge hits Grieg final quarter results

Grieg Seafood worker

Jellyfish attacks in Norway, ulcer problems and other issues impacted on Grieg Seafood’s fourth quarter results, a trading update from the company today shows.

Grieg said the harvest volume for the final period was approximately 21,800 tonnes, slightly up on the previous year but the company did not have fish from Newfoundland a year ago.

Production costs per kilo in Norway were higher although they fell in British Columbia.

The breakdown is (Q4 2022 figures in brackets):

  • Rogaland 2,200 tonnes (6,900 tonnes);
  • Finnmark 10,400 tonnes (12,800 tonnes);
  • British Columbia 6,000 tonnes (1,500 tonnes) and
  • Newfoundland 3,200 tonnes.

The average regional farming costs were:

  • Rogaland NOK 67.2 (NOK 54.6);
  • Finnmark NOK 64.7 (NOK 54.1);
  • British Columbia CA $11 ($13.3) and
  • Newfoundland CA $12.2.

The Grieg update said: “The harvested volume and farming cost in Finnmark were impacted by the parasite Spironucleus Salmonicida, winter ulcers, and string jellyfish.

“In Rogaland, low harvest volume influenced farming cost. In Newfoundland, parts of the 2023 planned harvest volume have been deferred to 2024 due to challenging weather conditions and market expectations.

“As Newfoundland is still in a development phase, the region has, in addition to the farming cost, cost allocated directly to the income statement at the same level as last quarter.”

A number of other Norway based salmon farming companies have reported serious problems with jellyfish attacks in the autumn, impacting on the results published during the past few weeks.

The complete Q4 2023 report will be released on 22 February.

Apolemia uvaria – also known as pearl norman, or string jellyfish

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