Grieg reports Q4 2023 volumes: production costs spike amid weather, market challenges

Editorial Staff

Winter sores and jellyfish take toll on Grieg results.

Salmon farming giant Grieg Seafood has announced a total harvest volume of approximately 21,800 metric tons (GWT) for the quarter In its Q4 2023 trading update,

The breakdown by region is as follows:

  • Rogaland: 2,200 metric tons
  • Finnmark: 10,400 metric tons
  • British Columbia: 6,000 metric tons
  • Newfoundland: 3,200 metric tons

The company also reported average regional farming costs per kilogram for the quarter:

  • Rogaland: NOK 67.2
  • Finnmark: NOK 64.7
  • British Columbia: CAD 11.0
  • Newfoundland: CAD 12.2 (NOK 94.7)
  • British Columbia: CAD 11.0 (NOK 85.4)

Both the harvest volume and farming cost in Finnmark were affected by various issues, according to Grieg, including Spironucleus Salmonicida, winter ulcers, and string jellyfish.\

In Newfoundland, Grieg Seafood encountered several hurdles. A segment of their fish harvest, initially scheduled for 2023, has been postponed to 2024. This delay was primarily due to unfavorable weather conditions and shifts in market dynamics. Being in an early development stage, the Newfoundland operations also faced additional expenses, which were duly noted in their financial records, mirroring the approach taken in the previous quarter.

The complete Q4 2023 report is scheduled to be released on Thursday, 22 February 2024, at 06:00 CET.


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