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< Back to news 06 December, 2016

Christmas continues to be impacted by salmon shortage

The market price of Atlantic Salmon farmed in Norway and Scotland remains at a historical high fueled by continued limited supply and high global demand. Read on to view the status of the fish market this December, brought to you by Beacon supply partner, M&J Seafood.
Guest article: M&J Seafood

As Christmas approaches, the demand increases for processed and smoked Salmon and its price movement is strongly linked to the raw material prices. The Salmon supply situation in Scotland is critical with very little superior fish available to buy on the spot market. It is unlikely that we will see any significant improvement in supply until spring 2017.

From week 40 to 43 harvested salmon volumes have dropped by 7.9% from 2015 levels and reached just 97,067 tons compared to 105,448 tons harvested at the same time last year. In recent years the Salmon industry has worked on year on year growth of around 5% however this year to date, they are already down 4.2%.

Cod & Haddock
We should see good volumes of both species landed in December in Norway and Iceland however, the availability may be easily affected by unpredictable weather. Haddock prices will start rising due to seasonal demand. In addition, vessels tend to catch larger Haddock that swim closer to shore and become a target for the inshore fleet, which in turn puts pressure on the prices of smaller, less abundant fish.

Salmon New

Farmed Fish
Good supply and stable prices on most of sizes of Sea Bass and Bream farmed in Turkey will continue in December with only large Bass over 2kg being in short supply as we approach Christmas. Although the Euro has weakened against the Pound that is used for fish purchases from Turkey, the Turkish Lira has also weakened against the US Dollar which is mostly used by Turkey for import; this may have a further effect on prices.

December is always a popular month for Halibut so availability can be limited as demand rises in the run up to Christmas. We are however predicating a stable supply of fish from the Norwegian farms. No issues are expected for farmed Turbot, stocks are stable so availability and prices should be consistent.

Shellfish
With the Native Lobster season now finished, the market will mainly switch to Canadian Lobsters; prices will raise as we move towards Christmas.

Shellfish

To view the full fish and seafood report from M&J Seafood, click here.

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