The dive in Norwegian salmon prices in 2011 levied heavy pressure on smolt prices and smolt producers had their work cut out to achieve sales.
Frofisk, a Norwegian smolt producer, made this comment in its 2011 annual report.
The board of directors are expecting the market to be as tough in 2012.
Turnover in 2011 totalled NOK 6.8 million (€913,269/$1.1 million), as opposed to NOK 7.8 million (€1 million/$1.3 million) the previous year.
Earnings before interest and taxes (EBIT) dropped from NOK 2.2 million (€295,469/$360,591) in 2010 to NOK 47,214 (€6,341/$7,739) in 2011.
The
