Mowi's Canadian salmon division posted an operating loss of €4.9 million ($5.3 million) in the fourth quarter as low volumes and a challenging market situation took a toll.

The drop was substantial compared to the fourth quarter the year prior, when the company posted an operating profit of €16 million (€17.2 million).

The company said it's seen a price divergence in salmon markets, with weaker prices for the fish in the United States compared to Europe.