Chilean salmon farming and fisheries group Blumar posted a near 15 percent drop in third quarter earnings before interest, taxes, depreciation and amortization (EBITDA) to $152.5 million (€141 million).

This came as average salmon prices fell 9 percent from a year earlier to $6.87 (€6.34) per kilo and ex-cage costs rose 15 percent to $5.04 (€4.65) per kilo.

Salmon harvests were down 31 percent to 10,200 metric tons.

However, the company's fishmeal and fish oil division benefited from a global supply shortfall, after the key first season in neighboring Peru's north-central waters was canceled early this year.

As a main producer, Peru's anchovy quota announcements and the progress of harvests are always keenly monitored by the fishmeal industry and aquafeed producers because of the impact on prices of their main raw materials.

Fishmeal prices increased 16 percent to $2,137 (€1,974) a metric ton in the quarter compared with the same period of 2022, while fish oil prices climbed 67 percent to $4,757 (€4,394), the company said.

Tracking trends in seafood markets