While presenting Cermaq’s first-quarter results, Cermaq CEO Geir Isaksen was challenged by an analyst to comment on the company’s performance in Canada.
Indeed, the analyst pointed out, profitability in Canada was higher in 2006 than it was during the first quarter of 2011, despite the much higher salmon prices.
In response, Isaksen said Canada should be considered as interesting for its proximity to the U.S. market.
“It costs NOK 8 (€1/$1.5) to NOK 9 (€1.1/$1.7) per kilo to send a salmon by air freight to the U.S.
