Jellyfish swarms eat into Mowi, SalMar Q1 2024 production estimates

A Mowi wellboat tending to a salmon farm
Mowi saw lower harvests and earnings in Q1, partially related to biological issues | Photo courtesy of Mowi
4 Min

Bergen, Norway-headquartered Mowi harvested 96,500 metric tons (MT) of gutted-weight equivalent (GWE) Atlantic salmon in Q1 2024, a 6,000-MT decline from Q1 2023.

Mowi said issues with winter sores and string jellyfish have resulted in low superior share and average size on fish harvested in Norway, impacting price and cost performance. 

Mowi’s complete Q1 2024 report will be released on 8 May. Mowi harvested an all-time-high 475,000 MT of salmon in 2023, and posted record revenues of EUR 5.5 billion (USD 5.9 billion). Its full-year harvest guidance for 2024 is 500,000 MT.

Frøya, Norway-headquartered SalMar also issued a Q1 2024 trading update on 10 April 2024. In 2023, SalMar recorded a record-high harvest volume of 254,100 MT, an increase of 31 percent year-on-year. However, it said there will be a 20,000-MT reduction in its harvest volume for Norway in 2024 due to mortalities caused by jellyfish. Its Norwegian farms are now forecast to produce 237,000 MT, while its volume guidance remained unchanged at 7,000 MT for SalMar Aker Ocean, 15,000 MT for Iceland, and 37,000 MT for Scotland.  

According to Mowi’s and Salmar's latest trading statements, jellyfish swarms are ... 

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