One of BC’s big three salmon farmers says it took $222 million (CAD) in losses last year because of political uncertainty in Canada over the industry.
That’s from Grieg Seafood’s Quarter 4 report for 2024, released February 20. The company operates farms in Norway and on both coasts of Canada, but CEO Andreas Kvame says this year the company will be focusing on growing Norwegian operations while protecting the value of its Canadian assets.
The report says the prolonged uncertainty in BC, delayed federal transition plan, and lacking regulatory conditions means it will be investing less in Canada this year, although it still plans to harvest 12,000 tonnes in BC in 2025.
The presentation is available online.
