Mowi lowers smolt cull loss estimates in Canada

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Mowi reduces loss, which is down to government intervention in the production cycle.

On Tuesday morning, SalmonBusiness reported that Mowi Canada West is going to cull 8.3 million smolt as a result of the government’s decision to phase out farming in open cages in British Columbia.

The source was the Canadian newspaper Langley Advance Times.

Now it turns out that the loss estimates are too high.

“There are 2.6 million smolt. Not 8.3 million,” writes Mowi’s head of communications Ola Helge Hjetland in a text message to SB.

Initially, it was reported that Mowi expects CAD 195 million in revenue loss. That has been amended to an estimated EUR 60-70 million in lost sales revenue.

“We have not said anything about the amount yet, but have sent out a stock exchange announcement of the effect on volume. We will be back with other numbers in Q4,” Hjetland added.