France: The price of salmon worries smokers

Published 2023년 4월 19일

Tridge summary

The price of Norwegian salmon, which makes up 53% of smoked salmon in France, has seen a dramatic increase of 96.65% between Q1 2021 and Q1 2023, reaching a high of 11 euros per kilo in March 2023. This is due to a global supply-demand imbalance, with demand surging in China and production challenges such as heatwaves and health issues in Latin America. Additionally, increased transport costs are also contributing to the surge in prices. The situation is expected to persist, with Norway reducing production and a new tax leading to a blockage in the contracting mechanism on the Oslo stock exchange. This is of particular concern to the French smoking industry, which employs 2,600 people and had a turnover of 705 million euros in 2021.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Almost doubled in two years! The price of fresh salmon never ceases to give French smokers cold sweats, for whom this raw material represents 50 to 70% of production costs. The price of Norwegian salmon, which accounts for 53% of smoked salmon in France, increased by 96.65% between the 1st quarter of 2021 and the 1st quarter of 2023. In March 2023, the price of Norwegian salmon 4/5 kg reached the unprecedented price of 127 Norwegian crowns (11 euros) per kilo, according to the benchmark index, the Nasdaq Salmon Index (nasdaqomxtrader.com). "There is no structural change that allows us to envisage a significant reduction in the very high price levels of salmon, while companies are also faced with the general increase in their costs (energy, packaging, transport, labor", is alarmed ETF (Les Entreprises du Traiteur Frais), a member union of Adepale, in a press release dated April 17. Several factors explain this dizzying increase in the price of salmon. The first is structural, with ...

Source: Pdm-seafoodmag