Norway Salmon Farmers Hit by Muted US Demand, Fish Sickness.

DISSOLVED oxygen in water; COST of living; PRICES; SECURITIES analysts; CONSUMERS

Norwegian salmon farmers experienced a decline in profits during the second quarter due to reduced demand and health issues affecting yields. Grieg Seafood ASA shares dropped by 16%, while Mowi ASA, the world's largest salmon grower, saw a 1% increase and Leroy Seafood Group ASA experienced a 3.8% gain. Lower demand in the US and high raw material prices in Europe impacted Mowi's earnings, resulting in a 24% decline in earnings before interest and taxes compared to the previous year. The salmon farmers also faced challenges such as winter sores, string jellyfish, and low dissolved oxygen in the water, which affected their operations and harvest volumes. Despite these setbacks, Mowi aims to expand its annual harvest and expects the US market to gradually improve as Western economies recover. [Extracted from the article]

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