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Salmon prices
The cost of Mowi salmon farming rose to EUR 5.
10/kg from EUR 4.
78/kg in the first quarter due to underlying inflation, but in the context of strong salmon prices, EBIT per kg of farmed salmon was as high as EUR 3.
12
.
Mowi said that the global salmon results hit a record high, mainly related to the rebound in demand after the epidemic, the reopening of the food service industry, good retail demand, and the contraction of global supply
.
10/kg from EUR 4.
78/kg in the first quarter due to underlying inflation, but in the context of strong salmon prices, EBIT per kg of farmed salmon was as high as EUR 3.
12
.
Mowi said that the global salmon results hit a record high, mainly related to the rebound in demand after the epidemic, the reopening of the food service industry, good retail demand, and the contraction of global supply
.
Mowi produced 146,000 tonnes of feed in the second quarter and operated EBIT of approximately EUR 2 million, down 40%
year-on-year.
"Feed raw material prices and logistics costs have risen significantly, involving almost all raw materials, including fish oil, vegetable oil, soybean meal and wheat
," the company said.
”
year-on-year.
"Feed raw material prices and logistics costs have risen significantly, involving almost all raw materials, including fish oil, vegetable oil, soybean meal and wheat
," the company said.
”
Mowi expects global Atlantic salmon production to be around 556,800 tonnes in the second quarter, down 2.
8 percent
from the same period last year.
With the exception of Chile, which saw an increase in production (up 13.
3% year-on-year), production was reduced in all other regions worldwide
.
8 percent
from the same period last year.
With the exception of Chile, which saw an increase in production (up 13.
3% year-on-year), production was reduced in all other regions worldwide
.
According to the financial report, global salmon consumption in the second quarter fell by 7% year-on-year, higher than the reduction in aquaculture production, mainly due to the release
of frozen stocks in Chile due to the continuous rise in prices.
In the second quarter, the consumption of salmon in Asia decreased significantly, the year-on-year consumption of China, Japan and South Korea fell by more than 20%, the Asian market is facing a decline in air transport capacity and high freight rates, and the consumption of major cities in China is restricted by the epidemic lockdown, and it is expected that some asian markets will improve
in the third quarter.
of frozen stocks in Chile due to the continuous rise in prices.
In the second quarter, the consumption of salmon in Asia decreased significantly, the year-on-year consumption of China, Japan and South Korea fell by more than 20%, the Asian market is facing a decline in air transport capacity and high freight rates, and the consumption of major cities in China is restricted by the epidemic lockdown, and it is expected that some asian markets will improve
in the third quarter.
In the first half of 2022, the cumulative production of Mowi salmon was 199,300 tons (233,500 tons in the first half of last year), and the harvest is expected to be 460,000 tons
in 2022.
in 2022.
Mowi quoted Kontali as expecting global salmon production to grow slightly in the second half of the year, at a rate of around 2 percent, with spot prices remaining high
over the next six months under relatively constrained supply conditions.
over the next six months under relatively constrained supply conditions.
Considering that many markets are currently affected by slowing economic growth, the company notes that "historically, consumer demand for salmon will show more flexibility in this market environment", so it is largely not worried about the future market conditions of
salmon.
salmon.
Mowi said: "The Board believes that salmon will continue to stand out
in the animal protein market with its excellent product characteristics and many supporting trends, as well as extremely low feed conversion rates, extremely low energy consumption and excellent sustainability characteristics.
" ”
in the animal protein market with its excellent product characteristics and many supporting trends, as well as extremely low feed conversion rates, extremely low energy consumption and excellent sustainability characteristics.
" ”
