Global: Rabobank names salmon farming as the most profitable aquaculture sector in 2024

Published 2024년 1월 22일

Tridge summary

Salmon aquaculture is predicted to remain the most profitable sector in 2024, with an expected increase in supply driven by improvements in Norway, Canada, the UK, and Iceland. Although an increase in supply may lead to a slight decrease in prices, overall demand is expected to remain high. On the other hand, the shrimp market is projected to continue facing challenges due to excess supply, low prices, and weak demand, with a decline in global production and particularly in Asia. Additionally, the report highlights the past year as the most challenging for the aquaculture shrimp sector, with weak demand in the West and persistently strong supply from Ecuador leading to low price levels and high costs.

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

Original content

“Salmon will maintain its position as the most profitable aquaculture sector in 2024,” Rabobank said. Analysts note that after almost two years of decline, the salmon market is expected to see a positive, if not sharp, increase in supply in 2024. “This is mainly due to an improvement in Norway, but Canada, the UK and Iceland are also expected to contribute to overall supply growth,” the survey said. Under the influence of an increase in supply, prices may decrease, but it will be insignificant, since demand remains at a fairly high level. The shrimp market will continue to be volatile. It will be pressured by excess supply, low prices and weak demand, which will continue to decline in 2024. In particular, experts believe that an increase in domestic production will lead to a decrease in shrimp imports in China. Demand for this product in Europe will also remain low. “Rabobank expects a decline in shrimp production around the world, with producers in Asia most affected by this ...

Source: Fishretail