The Tasmanian-based salmon producer reported an after tax loss of $128.1 million for the year.

"The strong performance of Huon's farming operations in financial year 2020 was replicated in financial year 2021 as good growing conditions, combined with further productivity gains from the infrastructure delivered through the investment program, produced excellent fish performance," chairman Neil Kearney and managing director Peter Bender said in Huon's annual report, released on Tuesday,

"However, the COVID-related disruption to the global salmon market in the form of reduced demand from the food service sector, higher freight costs and a lower salmon price persisted throughout the year."

They described the year as turbulent, with export freight costs more than doubling.

"The domestic market recovered during financial year 2021 from the initial shock of the lockdown in March 2020," they said.

"Huon's strong focus on increased sales and volumes into the domestic market succeeded in capturing the majority of volume growth in the market, including increasing its share of the retail segment.

"As hospitality and food service businesses progressively reopened, particularly in the second half of the year, the company experienced a steady increase in demand from the domestic wholesale market.

"By the end of the financial year, wholesale volumes were close to matching the previous record achieved in financial year 2017."

International meat giant JBS is bidding to take over Huon.

An independent committee of the Huon board unanimously recommended shareholders accept the JBS takeover offers.

Shareholders are expected to get to vote on both schemes of arrangement on October 29 following federal court orders issued on September 22 approving convening of shareholder meetings.