Chilean salmon producer Salmones Camanchaca said higher operating costs, lower wholesale salmon prices and reduced inventory values caused a near 90 percent drop in its third quarter earnings before interest, taxes, depreciation and amortization (EBITDA) to $2.9 million (€2.7 million).
Third quarter revenue fell 14 percent to $82 million (€75.6 million) as wider availability of salmon depressed prices and a strong devaluation of Japan's Yen currency impacted coho salmon revenue.
The company also suffered Salmon Rickettsial Syndrome (SRS) and sea lice outbreaks at two production sites whose harvests featured heavily in third quarter numbers.
