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Species spotlight; farmed vs. wild-caught salmonids - also featuring Price premiums, politics and productivity

As we have entered the last quarter of 2023, we add to the history, another period where the pattern from last year is repeated. For fresh European salmon – we have seen a higher price level than last year – while also noticing the strong fall in prices during the quarter. The situation in the North American market has been somewhat different, with lower prices than last year’s Q3 – in local currency, but also a notable dip in prices towards the end of the quarter. And also between markets and sectors, price differences and price premiums continue to be seen.

The North American salmon market has also been characterized by a parallel phenomenon that is worth mentioning. The vast majority of all wild-caught US salmon are landed in the last part of Q2 and Q3. And especially for the sockeye and the pink salmon, ex-vessel prices have been extremely low this season; excessive carry-over inventory for sockeye, weaker demand and plenty of low priced Russian pinks are the main pitches to this story. A little deep dive on the wild salmon market dynamics was also presented by Kontali in this year’s Responsible Seafood Summit (previously GOAL), held in Saint John, New Brunswick this week. One of the comparisons between the two sectors was how the strong price and value development for famed salmon over the past 20 years, is not reflected in the corresponding development for the wild-caught species.

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