Salmones Camanchaca said it expects mass mortality incidents at two production sites in Chile's southern Los Lagos region will cost the company approximately $3.5 million (€2.9 million) and nearly 3 percent of its biomass.

Following an incident at the Puerto Argentino site on March 11 and the Nieves site three days earlier, the company's estimated annual harvest volume will be reduced by 500-1,000 metric tons, which is close to 1-1.5 percent of the total estimated harvest in 2021.

"The algae bloom events became more severe on March 8, and as of today, March 15, resulted in a loss of 162,000 fish of Atlantic salmon, which represents 1.4