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Driven by mild sea temperatures, decreased jellyfish blooms, and the implementation of a new winter-ulcer vaccine, the Norwegian salmon farming industry has seen an increase in superior-grade salmon harvests, says Filip Szczesny, financial analyst at Kontali. This increase in salmon quality is reflected in shifting market dynamics, with exports to EU countries for processing decreasing by up to 33 percent compared to the same period in the previous year, potentially due to a higher percentage being kept for premium domestic markets.
However, as a whole, the EU is experiencing a surplus of large fresh whole salmon which, in addition to reduced demand from Asia, is driving salmon prices down within Europe.
Elsewhere, in Chile the winter harvest of coho salmon has reached record highs, up 5 percent year-over-year, with average harvest weights also increasing by 3 percent compared to the previous year. Despite this growth, the overall harvest for the year has dropped by 6 percent year-over-year.
This trend of production decline is reflected in Iceland, where low temperatures and ongoing fish health issues have resulted in a drop in the volume forecasts for 2025.
