Global Atlantic Salmon supply totalled around 643,000 tonnes during Q1 2023, down 3 percent compared to Q1 2022.

Norway, (the largest Atlantic Salmon producer), registered an output of 335,000 tonnes in that period, down 2 percent compared to the same time last year, while Chile harvested 189,000 tonnes, up 4 percent.

Some Chilean Farmed Salmon producers are shifting to Coho, (which saw a 19 percent surge in Q1), reflecting a growing trend among producers expanding Coho output and targeting new markets, particularly the United States, due to its faster production cycle and reduced need for antibiotics.

On the Trade front, Norwegian seafood exports reached historic highs in terms of value, driven by a weaker Norwegian krone, food inflation, and rising salmon prices.



The US market emerged as a significant driver of growth, with a 53% increase in value and an 18% increase in volume for Atlantic salmon imports.

The market for US Atlantic Salmon imports had a strong start in 2023, outperforming the previous year on the count of growing consumer interest in the health benefits of salmon, enhanced accessibility, and availability.



Importantly, there is a rising preference for salmon fillets (both fresh and frozen) over whole fish, influenced in part by lower Canadian production levels.

For prices, Salmon prices exhibited fluctuations, with Norwegian Salmon prices experiencing periods of volatility.

Chilean Atlantic Salmon fillet prices to the US market began to rebound after a 21-week downward trend.

Meanwhile, Scottish fresh, head-on gutted Atlantic salmon prices declined over time.

Global Farmed Atlantic Salmon market in 2023 remains uncertain due to global economic conditions and geopolitical conflicts.

Initial projections suggest stable or slightly increased supplies with production expected to rise in Norway, Chile, the United Kingdom, and the Faroe Islands.



However, Norway's Salmon tax and challenges in Chilean salmon production due to overproduction sanctions are key factors influencing the market.

Price analysts expect high spot prices in the short term, with potential stabilization by 2025.

Our recommendation to buyers is to monitor supply trends, market developments, and price fluctuations while accessing your Farmed Salmon requirements.

Then connect with your Tradex Foods Business representative when you are ready as we have access to global Farmed Salmon supply.

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