Overview of the global salmon production
This fall was unable to be covered by the increases from other producing countries such as the UK and the Faroe Islands. This situation explains why prices of Atlantic salmon in the American market rose to historic highs (US$ 5.60/lb, according to Urner Barry reference for Fresh Fillet Trim C in Miami), reflecting an average 21.0% increase compared to March 2010.
According to a report published by the local salmon producing company Multiexport, it is estimated that Atlantic salmon prices will remain high over the rest of the year, with a slight indication of low at the end of the year.
Regarding trout, the global production grew by 7% explained by the higher harvests from Chile (20%). This situation, coupled with low inventory levels in Japan and a booming Russian market, pushed prices up, showing an 11.8% increase in 1Q 2011 compared to the average price in the same period of 2010.
The report also details that Chile is expected to produce around 480 000 tonnes of salmon products this year.
In the case of Multiexport, the company plans to harvest over 33 000 tons WFE of Atlantic salmon, with a strong change in the mix of species in comparison with the last year, growing in Atlantic salmon at the expense of trout. Atlantic salmon will represent close to 80% of the whole volume, while in 2010 ended with a 55% share of the harvested volume.
