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Salmon Prices Fluctuate As Production Recovers

Salmonids Sustainability Economics +2 more

GLOBAL - Salmon prices have been on a constant rising trend since the decrease in Chilean production in 2008, says the Irish Food Board.

They have been particular high for the first six months of 2011 with export spot prices of Norwegian salmon averaging €5 per kg according to fishpool.

However Chilean production is now recovering with exports for the first quarter of 2011 rising by 30 per cent in volume and over 50 per cent relative to a year earlier.

Demand in Japan and the US is reported to be particularly good with Latin America and Europe being Chiles other main export markets.

Trout and Coho salmon now account for Chile’s principle exports as these species have not been affected by the ISA salmon virus which caused production decline.

The increased supply in salmon has led to some price decline, particularly during the June to July period.

However, Chile is not expected to return strongly to markets before 2012. The role of quality labels becomes even more important as supply increases, especially the organic label which is showing ongoing success and helps consumers identify healthiest choices while retaining value for high quality production.