Mitsubishi-owned Cermaq Posts Loss Behind Lower Salmon Prices
Salmon farmer Cermaq, a subsidiary of Mitsubishi Corporation, reported a substantial loss of JPY 1.9 billion (US$12.5 million) in the first half of FY 2024.
The company credited the decline of European salmon market prices for the lower results. Mitsubishi Corp. said an increased supply of Norwegian salmon led to lower market prices as higher water temperatures during the summer months led to additional harvesting.
Mitsubishi said that prices sat at roughly $6.38/kg (NOK 70/kg), and an increase is expected throughout...
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