Orders for the Chinese New Year’s celebration and tight supply have caused an increase in Chilean fresh salmon prices in several Asian countries, particularly in China, sources told Undercurrent News.
Prices for whole fresh salmon from Chile on the Chinese market have risen to $11.50-11.80 kilogram this January, up $0.30-0.60/kg since last month, sources told Undercurrent.
Larger salmon sizes, particularly above 6kg, are scarcer, one of the sources noted.
Prices this January are slightly higher year-on-year, because of lower global supply, sources also said.
Salmon prices increased sharply in 2016, because of an algae bloom outbreak in Q1 in Chile and recent issues with sea lice in Norway and Scotland.
The euro volatility also impacted on salmon prices in euros, while the rise of the dollar against several Asian currencies, including the Chinese Yuan (see graph below), has weighted on prices in Asia.
Prices for frozen Chilean salmon also ticked up, although less than fresh fish.
Frozen salmon prices in Asian countries, including China, currently average $8-8.30/kg, more or less stable since December, sources said.
Meanwhile, Norwegian salmon prices in Europe for the second week of 2017 decreased, after several consecutive weeks of increases.
A hike in Norwegian salmon prices and lower availability of Chilean product caused an increase in Atlantic salmon prices in Asian countries in December. Prices had risen to around $8.00/kg in December, up from just above $7.00/kg in previous months.
Several Chilean firms are progressively selling more fresh salmon to China, as demand is growing.