Trends in the farmed salmon industry

Odd Grydeland

At the opening of the Aquaculture Pacific Exchange and Exposition in Campbell River, the Executive Director of the Canadian Aquaculture Industry Alliance (CAIA)- Ms. Ruth Salmon- made a well received presentation about the trends that she has registered within the seafood sector in North America- particularly from the aquaculture industry's point of view. She highlighted the following five trends as some of the most important ones;

1. Increasing demand On a world wide scale, 50% of all seafood now comes from farms. This rate is growing by some ~5% per year. 5 of the 10 most popular seafoods consumed in North America come from farms, where salmon and mussel consumption has doubled in the last ten years. Canada has the world's longest coastline and the most fresh water of any nation. The country is still only number 22 in aquaculture production, with resources much underutilized.
2. Canadian dollar vs. the US "Greenback" Most of the Canadian aquaculture production is exported to the US, and even product going to other countries are most often sold in US dollars. Since 2002, the US$ has dropped some ~37% in value, while prices for products have gone up by only ~10%. The Canadian aquaculture industry is responding by diversifying its market- in 2006 some 23% of production was going to the EU- a rate that is increasing.
3. Demonstration of Sustainability The aquaculture industry in Canada is committed to continuous improvement to its environmental performance and practices. It has demonstrated a high level of compliance with a very strict regulatory regime. It is in the forefront of research into the reduction of fish meal in aquaculture foods. An initiative to establish a certification program is underway, with the federal government, industry associations and the Aboriginal Aquaculture Association as the main players.
4. Increased Cooperation Ms. Salmon spoke about the results of recent mergers and acquisitions- leading to fewer players with the common interest being given higher priority. Mussel farmers on Canada's East Coast are banding together to develop (with CAIA's help) the Canadian Mussel Council in order to conduct generic marketing of their product at an annual cost of ~$CAD 1.2 million per year over the next three years.
5. Awareness of Health benefits from eating Seafood This is one of the platforms in all of CAIA's communication strategies. CAIA will be working towards a positive influence of the November conference on seafood and health, to be held in Vancouver, BC.