An exceptionally bad year and political uncertainty has Grieg Seafood considering an exit from farming salmon in BC.
The company released its international third-quarter results this week, and British Columbia was the poorest-performing region globally. That’s mostly because of a large algae bloom earlier this year which impacted growth and survival rates.
CEO Andreas Kvame says in the quarterly report that the company is considering its options for Canada, where it’s growing in Newfoundland but not in BC, because of political uncertainty.
“We aim to realize the potential of sustainable growth in Canada. To maximize this value while mitigating risks, we seek long-term partners to participate in the development of our operations in this region. The process of identifying potential partners is progressing,” he says. “We are in dialogue with parties for both strategic partnerships and a business sale.”
This summer the federal government announced it was phasing out ocean net-pen farms in BC by 2029. Kvame says the company is putting all investment on hold in BC until the detailed transition plan is released; it’s been promised for next year.
Grieg Seafood’s BC operations are headquartered in Campbell River, the company operates farms north of Sechelt and on the Island’s West Coast.
