World: The risk of algal blooms in Chile has increased and salmon farming costs have entered a stable period

The latest forecast from Norwegian brokerage Fearnley Securities is that salmon spot prices are expected to remain high in 2024, breeding costs will stabilize, and producer profit margins will be supported. ​ Fearnley analyst Nils Thommesen said that Norwegian production will decrease by 2% in 2023 and is expected to increase by 4% in 2024, benefiting from an increase in the number of fry and the entry into use of new licenses; Chilean production will decrease by 1% in 2024, affected by El Niño , the risk of algal blooms will increase in the first quarter; the productivity of the United Kingdom, Iceland and the Faroe Islands has improved, and the amount of seedlings has increased. The total global production in 2024 will be 2.95 million tons. ​ Thommesen believes that the risk of Chilean salmon farming this year is higher than in previous years. In 2016, red tide caused a mortality rate of 15% of farmed salmon. Historically, El Niño has a positive correlation with the red tide ...