Mowi consumer product: 'DucktrapCold Smoked Salmon Entrée'

Mowi reaches record volumes in the first quarter and highlights rise in prices due to strong demand

"Although there are still extensive lockdown measures in place, out-of-home consumption has started to improve in some markets compared to the previous quarter," said Mowi CEO Ivan Vindheim.

A change in its trend was recorded by the Mowi salmon company in its results for the first quarter of the year. According to the information provided by the firm, during this period it reached record volumes in both production and consumption.

This, since it managed to harvest 125,000 tons of salmon, equivalent to a growth of 51% compared to the previous year, and sold 62,000 tons of products with added value, figures that the company highlighted in its financial report.

This also added to the behavior in the cost of production, which was reduced by 9% and which was due, according to the company, to large volumes and cost initiatives over time.

Meanwhile, in terms of operating income, these reached 1,022 million euros, while a year ago they obtained 885 million euros in the same quarter.

Although the salmon company sincerely stated that the first quarter was characterized by continuous blocking measures as a result of the effects of Covid-19, and a high growth in the global supply of salmon, they still highlighted that prices increased during the quarter due to the strong demand that has been experienced.

"Although there are still extensive lockdown measures in place, out-of-home consumption has started to improve in some markets compared to the previous quarter. Demand in the retail sector has remained very good, something that Mowi has capitalized on once again through of our integrated value chain, "said Mowi CEO Ivan Vindheim.

Likewise, the company said it believes that demand for salmon is on track "for a full recovery driven by increasingly less restrictive Covid-19 measures. Growth in retail salmon sales was 20-25% during the quarter, and This growth came from both new and existing customers. Mowi expects both customer groups to increase their retail consumption after Covid-19, even as the foodservice segment continues to reopen, " the company said.

Author: Camila Bohle S. / Diario Financiero (article available only in spanish)

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