October 28, 2014

Global salmon trade has been steadily increasing with total global salmon exports growing from 1.25 million tons in 2000 to 2.7 million tons by 2013.  The United Nations Food and Agriculture Organization (FAO) predicts a continuation of this trend and foresees growing global demand for farmed salmon in the coming years, however not without certain challenges.  The industry will need to limit the key feed ingredients of fish meal and fish oil and will have to work toward the widespread greater acceptance of aquaculture.   Short-term drivers of growth are identified as availability, price, and promotional ability.  While for the longer-term global income growth, especially in quickly growing emerging economies such as Brazil, Russia, and China is cited as being a main driver.  An increase in demand is expected to bring an increase in price, however, price increases for salmon are expected to be less than those for chicken and are not expected to be affected by decreasing demand as salmon is increasingly better positioned in the meat sector.  Increased salmon production is expected to drive up the price of fish oil significantly however the price of fish meal is not expected to be as greatly affected as 40% – 45% of fish meal is sourced from the filleting industry.

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