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The Norwegian salmon price bucked the upward trend evident through most of 2021, respectively
falling by NOK 10.5/kg (-15.1%) m-o-m and NOK 5.4/kg (+8.3%) y-o-y in June 2021 to average NOK
59.2/kg for the month. Despite reportedly Improving levels of European retail demand, such as
France re-opening fresh fish counters and restaurants, market sources point to significant volumes of
unsold fish in frozen warehouses, which are subsequently downgraded to attract buyers.
After peaking at the highest level recorded since 2012, the average price of Chilean farmed salmon
fell by USD 0.7/kg (-8.5%) m-o-m in June 2021 to USD 7.61/kg. This reflected slower demand from
the US and Europe, with most procurement contracts for the next 3-6 months already delivered and
warehouse space tight. However, the June average almost doubled against the same month in 2020,
gaining USD 3.8.kg (+99.2%), due to tighter supply, caused by algae blooms, which accelerated fish
mortality rates.