Low harvest volume and modest third-quarter price premium for Atlantic Sapphire

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The company responds to lack of investor confidence by offering increased transparency in the business for the time ahead.

The land-based salmon farmer presented its trading update for the third quarter of the year shortly after the stock exchange closed on Tuesday. Here it appears that the price achieved per kilo of harvested fish (in the USA) was $7/kg. In comparison, Fish Pool’s comparable price was $6.4 per kilo.

The company harvested 700 tonnes of salmon at the plant in Miami during the quarter, and saw the biomass grow by 600 tonnes. As is well known, the plant in Hvide Sande in Denmark burned down earlier this autumn, and the entire biomass, of salmon and trout, was lost.

The company points out that the sales price achieved reflects about 60 per cent of the harvest. The remaining volumes are currently placed in cold storage and or in the smokery and are expected to be sold at a price premium. The sales price obtained also includes early harvested fish from the period of shortage of liquid oxygen.

Atlantic Sapphire further states that the quarterly trading updates will be replaced by a more detailed monthly update that will give all interested parties a deeper insight into the US business as the company moves towards “steady state US Phase 1 production” in mid-2022.