Agree that the share price drop may be counterintuitive.
While we have very few overseas tourists or students in Oz due to the ban and/or less availability of overseas travel, a media report of a few weeks ago suggested that due to 800000 Australians (including me) not being overseas at Christmas, the population in Oz would temporarily rise four per cent.
That's 400000 extra households looking to celebrate Christmas (even if not all are Catholic or other Christian) with seafood increasingly favoured, as has been the trend for the last decade. Surely the percentage of middle and upper class Australian households who enjoy smoked salmon and mango at a Christmas family feast must be high.
Restaurants in all states are again trading, albeit in some with 'social distancing' restrictions. The hamfisted Premier in Victoria has just announced people can now stand at the counter/bar in venues like pubs: this will encourage more to go to independent or WOW-owned pubs, and some will inevitably order a meal, with salmon often on the menu.
Against that, I've seen one retail outlet in Melbourne offering salmon (not smoked) for as low as A$29.90/kg, and perhaps the higher A$ is incentivising importers to bring in more Ocean Blue salmon products from Norway. But many prefer the Australian product so basically a choice between TGR, HUO and one smaller producer.
