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Fish & Seafood
Salmon
25
The Norwegian farmed salmon price dropped for the fifth consecutive month in August 2022, falling by NOK
19.0/kg (-22.4%) m-o-m in July 2022, to a four-month low of NOK 65.5/kg. The price continues to correct,
following the record high of April 2022, reflecting subdued demand, as price-squeezed consumers substitute
towards comparatively more affordable sources of animal protein. Notwithstanding, the August 2022 price
increased by NOK 10.8kg (+19.6%) y-o-y, gaining support from tight global inventories and pressure on the
Norwegian biomass, caused by high costs and disease outbreaks.
Norwegian salmon - NOK/kg
Aug 20 Nov 20 Feb 21 May 21 Aug 21 Nov 21 Feb 22 May 22 Aug 22
40
50
60
70
80
90
100
110
120
UG01 - Salmon farm 3-6 kg Fish pool Index NO
Mintec's Chilean salmon price contracted by USD 0.8/kg (-9.2%) m-o-m in August 2022, to an eight-month low of
USD 7.57/kg. This dip is attributed to US demand weakening, the US being the main export market for Chilean
salmon, caused by high frozen inventories and shrinking household budgets. However, the July 2022 price
increased by USD 0.4/kg (+5.0%) y-o-y, as comparatively thinner demand was outweighed by reduced farm
productivity, caused by high fish mortality rates and smaller average sizes.
Chilean salmon - USD/kg
Aug 20 Nov 20 Feb 21 May 21 Aug 21 Nov 21 Feb 22 May 22 Aug 22
2.5
3.5
4.5
5.5
6.5
7.5
8.5
9.5
8W54 - Salmon farm Atl 10-12lbs fob CL