Well according to the NASDAQ Salmon Index, the price for Salmon...

Well according to the NASDAQ Salmon Index, the price for Salmon has dropped from an all time peak of 79 Kroners per KG NQ early in the year to 45 Kroners in October. Last week was the first increase in a while to (week 45 of 52) it increased 4.31% to 46.56 Norwegian Kroners. (This is an average across the various weigh classes.)

There are a lot of moving parts with consumption and production both appearing to increase and various states of disease/bloom in evidence in Chile and Norway. YOY production appears to be up about 10% as more of the damaged Chile and Norwegian producers ramp back up.

I like Tassal - management seems honest and transparent and they seem to make sensible capital decisions. However this is not currently a holding for me due to the ongoing capital needs, inherent risk with livestock and commodity pricing nature of the business.

That said they are impressive with their margin management, fish growth profiles and tight opex management. I suspect that they will continue to be successful within the context of their industry.