Blumar’s aquaculture arm posts Q1 downturn

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Chilean salmon producer Blumar has reported a dip in first quarter fortunes. 

It saw an EBITDA before biomass adjustment of $15.5 million in Q1 2018 against $ 17 million in Q1 2017.

Turnover in its aquaculture segment increased from $ 63 million to $ 70.8 million in the same period, according to Chilean website Aqua.

Increased salmon farming saw higher volume sales, with the company selling 12,200 tonnes of salmon in Q1 2018 against 9000 tonnes in the corresponding 2017 period –  an increase of 36 percent. But the price of salmon was up to 18 percent lower in Q1 2018 compared to Q1 2017.

The decrease was offset by stronger showings in across Blumar’s other fisheries operations, which saw an increase in both revenue and earnings. Overall revenue increased from $ 31 million in Q1 2017 to US$43.3 million in Q1 2018.

The result made a strong showing from $ 1.3 million to US$9.5 million in the same period. According to its quarterly report, Blumar sold 28% less fishmeal, a total of 6,293 tons, and 8% percent more fish oil.

Higher prices were however achieved for fishmeal and fish oil,  up by 16 percent and 18 percent respectively.