Danish aquaculture feed company BioMar saw its earnings shrink by 3 percent in the second quarter of the year, due to “fierce competition for volume sales” and challenges offsetting a sharp rise in prices of raw materials and logistics.

The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter dipped to DKK 215 million (€28.9 million/$33.9 million) from DKK 222 million (€29.9 million/$35 million) in the same period a year ago, despite seeing revenues increase 6 percent to DKK 2,858 million (€384.3