Facing aftermath of mass mortality, Camanchaca harvest drops 40 percent in Q2

Santiago, Chile-based salmon farmer Camanchaca harvested a total of 6,425 metric tons (MT) of Atlantic salmon with an average weight of 3.9 kilograms whole fish equivalent (WFE), the company reported in a brief statement to the Oslo bourse.

Comparing to total harvest of 10,670 MT of Atlantic salmon during the same quarter one year ago, the Q2 2021 harvest represents a 39.8 percent drop year-over-year.

The company said that its Atlantic harvest estimate for 2021 is maintained at 41,000 to 43,000 MT WFE and about 2,000 MT of coho.

Camanchaca’s full Q2 2021 report will be released on 18 August 2021.

While the salmon farmer did not provide any reasons for the lower harvest, severe algae blooms and the resulting mass mortality, coupled with lower market prices and reduced sales, took a toll on the company earlier this year. It closed Q1 with negative earnings before interest, taxes, debt, and amortization (EBITDA) of USD 7.4 million (EUR 6.2 million), compared to a positive EBITDA of USD 15.1 million (EUR 12.4 million) in the first quarter of 2020. 

Had it not been for the 3,700 metric tons (MT) in extraordinary mortalities that affected its centers in the Reñihué and Comau fjords during Q1, the company would have posted EBITDA at break-even point, Camanchaca said at the time.

In June, Camanchaca confirmed its commitment to sustainability and released its latest sustainability report, saying it “reiterates its attitude of listening, learning and innovating for the benefit of the sustainable development of salmon farming… [despite] a complex period of changes on the economic, commercial, technological, political and social levels.”

Salmones Camanchaca is a vertically and fully integrated salmon producer with operations in farming, processing, marketing and sale of salmonids. It harvested 53,000 MT WFE from its core business of Atlantic salmon farming in 2020, and it has ventured into Pacific salmon farming.