Its chief executive Grant Rosewarne said overproduction of Atlantic salmon in Norway and Chile had seen the price plummet to an uneconomic level for some overseas marine farmers, including in Australia. In some markets it had halved, reports the Nelson Mail.
"We produce king salmon, so we're somewhat insulated from that, but we're still affected."
New Zealand Trade and Enterprise approved the grant last month from its international growth fund, which has a NZD 30 million (€16.7 million/$22.5 million) budget this year.
Nelson-Marlborough
