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3-Minute Market Insight

EP 616 | AIRED 11/21/2022

Largest Hokkaido Salmon Harvest Since 2016 - BUT Japan Still Needs More Salmon

Nov 21st, 2022 - Japan is set to see the largest harvest of Hokkaido Chum Salmon since 2016 - however the country is still in need of more Salmon.

TradexLive
Preliminary catch totals as of November show 166 million pounds harvested - already surpassing 2016’s total.

This year’s harvest equates to about 57 million pounds more Chum Salmon than the past 5-year average.

And although Hokkaido Chum Salmon is mostly consumed domestically, our sources have advised Japan is still trying to source more Salmon.

Largest Hokkaido Salmon Harvest Since 2016 - BUT Japan Still Needs More Salmon

Japan typically buys a lot of their Salmon requirements from Russia, however due to war imposed sanctions and Russia’s container shortages - imports of Russian Salmon into Japan have been strained this year.

Imports of Russian Sockeye into Japan for 2020 and 2021 were upwards of 40 million pounds annually, however preliminary data shows Russian Sockeye imports into Japan this year are hovering around only 15 million pounds.

Japanese companies were trying to secure Alaskan fish early in the season and although imports of Alaskan Sockeye have surpassed last year's levels, they have yet to come close to 2020 levels of over 16 million pounds.

THE PROCESS

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Imports of frozen Chilean Farmed Salmon into Japan have all been down this year, however imports of Norwegian are up considerably.

Largest Hokkaido Salmon Harvest Since 2016 - BUT Japan Still Needs More Salmon

Keep tuned-in to our “3-Minute Market Insight” to get quick and informed updates on the global seafood markets.

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