W47 Salmon Update: Norwegian Salmon Export Prices Dropped, Chilean Salmon Deaths Exceeded 1,500 mt

Norwegian Salmon Export Prices Fell in W46

Norway exported 24.83 thousand metric tons (mt) of farmed Atlantic salmon, a 4.11% week-on-week (WoW) increase, and an 8.14% year-on-year (YoY) rise. The European Union (EU) is the primary destination for Norwegian salmon, with an export volume of 19.34 thousand mt, representing a 16.63% WoW drop. China and the United States (US）received 589 mt and 539 mt, respectively. The average export price dropped by USD 0.13 per kilogram (kg) compared to W45. Salmon weighing 4 to 5 kg took 31.45% of total sales, followed by the fish weighing 5 to 6 kg and 3 to 4 kg, with a share of 20.43% and 26.37%, respectively.

Moreover, Norwegian farmed salmon prices in W47 were stable or slightly higher than in W46. However, the prices are expected to rise in the next few weeks due to stormy weather and pre-Christmas buying. It is anticipated that the price increase will only be a temporary occurrence.

Chilean Salmon Deaths Exceeded 1,500 mt

According to Sernapesca, over 1,500 mt of salmon were killed in Chile's Southern Los Lagos region due to an algal bloom. This number is three times higher than the initial report in W46. Despite the crisis affecting nine farms, the majority of the death cases (around 890 mt) occurred in just one concession area. As a response, the Chilean Government activated contingency plans for the removal and disposal of dead fish. By Wednesday, November 22, all the dead salmon were transported to processing plants and converted into fishmeal.

Furthermore, Sernapesca has defined Thalassiosira Pseudonana as the dominant microalgae causing the current algal bloom. However, it may not impact the region's bivalve mollusks or other fish.

Turkish Salmon Exports from the Eastern Black Sea Increased by 44% YoY

From Jan-23 to Oct-23, Turkish salmon exports from the Eastern Black Sea experienced a 44% YoY increase, reaching USD 133 million. As of Oct-23, Turkey exported 21.9 thousand mt of salmon from this region to 18 countries, especially Russia, Vietnam, and Belarus. Salmon exports to Russia reached USD 95 million, taking 71.42% of the total export volume. Vietnam and Belarus were other prominent exporters, contributing USD 25 million and 5 million, respectively. The Turkish salmon industry anticipates further export growth, focusing on diversifying its markets.