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Salmon, US - February 2011

Reportes de mercado01 de agosto de 2011

Imports of salmon into North American markets were lower in the first nine months of 2010, but price trends were mixed. Demand, particularly for fresh fillets, was good, and lower imports reflected a lack of supply rather than a drop in demand.

US salmon imports fell in the first nine months of 2010. Total imports of salmon (both wild and farmed) amounted to 133 103 tonnes worth USD 1 087 million, -9.6% and +3.5% respectively compared with the same period in 2009. These figures reflect a 14.5% increase in unit value of imports, pushed by the higher unit value of fresh fillets of farmed Atlantic salmon (+24%). Fresh fillets account for 32.5% of total imported volumes and 43% of total value. Supplies of this product fell 22% in the period reviewed, while a 2% increase in purchases of fresh whole farmed Atlantic salmon, accounting for 52% of total salmon imports, are the main forces driving the drop in total imports, as the remaining categories showed a reduction in the volume traded but make up a smaller share of total supply. Canada is the leading supplier of farmed Atlantic salmon, mainly in the fresh whole segment, with a 76% share. The fresh fillets segment, on the contrary, is now clearly dominated by Norwegian products, with a 43% share, thanks to a 49% increase in traded volume, while Chile is now second with a 35% share after a 56% drop in sales. Canada, the third player in this segment, also registered a significant 68% increase in total sales. Prices of Chilean fresh fillets have shown a downward trend since July, but by November they had started to recover, and by the end of the year the price of Chilean fresh fillets was 18% higher in a year-on-year comparison. Quotes were 15.5% lower than the peak registered in June. Usually prices stabilize by the end of the year at lower levels and start to recover at the beginning of February; however, in the current economic climate, it is not clear how much margin there is for further increases without affecting demand. For European salmon, the upward trend is stronger, and quotations are 24.5% higher than a year ago, and only 4.7% below the peak registered during 2010. By the end of 2010, the fresh fillets market is being driven by demand, and supplies are tight, firming up prices. Regarding frozen fillets, prices have been relatively stable since November, after a slight reduction since August, but still remain 24% higher than a year ago.

Improvement in domestic supply of wild salmon in the US


The 2010 salmon season in Alaska showed an improvement over previous years, with preliminary total landings were nearly 10% higher than in 2009, from 331 587 tonnes to 363 613 tonnes. Total value of landings also shown a strong increase of +27%, reflecting a 17% increase in average price. Looking forward to the first quarter of 2011, the Alaska Seafood Management Institute is expecting to have the management of Alaska salmon certified as sustainable by the Global Trust certification scheme by March 2011. A more contentious issue is that the trawling fleet catching pollock in the Gulf of Alaska is reported to have exceeded the limit of salmon by-catch, set at 40 000 fish, by over 18 000 fish. In addition to the higher landings in Alaska, runs of Chinook salmon in some areas of California also showed an improvement. Very good runs of sockeye took place in Alaska and British Columbia, which have been seen as a success for conservation and recovery plans put in place after the species showed strong signs of depletion in 1990. The good performance of wild salmon catches led to a reduction in price by late August, but prices later recovered somewhat. By the end of the year, the price of whole frozen sockeye had increased.

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