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The continued high price of Scottish salmon could cost it its existing market share

 Last Update: 2022-12-29
 Source: Internet
 Author: User

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Scottish salmon is in danger of losing market share as high prices and supply shortages over the past year have left buyers fraught with worry
.

The market price of Scottish salmon is already around €1.
50 to €2.
00 ($1.
54 to $2.
00) per kilogram more expensive than that of rival Norwegian salmon, and has averaged €3.
00 ($3.
10)
per kilogram higher in recent months.
According to the latest data, sales of Scottish salmon to EU and non-EU markets fell by 8%
compared to 2021.

Europe is the number one export market for Scottish salmon, especially France
.
Many customers have stopped ordering, fearing that high prices over the past year could cause fatal damage
, according to a major French seafood importer.
"The fresh salmon market is completely insane"
.

"We know that the fourth quarter of this year will be very difficult and we are already seeing mortality rates
.
The start of next year will also be very difficult, and many companies are scared
.
The atmosphere was really bad
.
Compared to previous years, the demand in the market is very low
.
"

Fish mortality rates on Scottish salmon farms are very high, forcing Scottish salmon prices to record highs
over the past year.

Mowi, Scotland's largest salmon farmer, has been forced to cut this year's catch guidance by 17 per cent to 50,000 tonnes and next year's forecast to 65,000 tonnes
.
Bakkafrost, the country's second-largest producer, is also down 10,000 tonnes
from its earlier 2022 guidance.

David Rosenow, sales and purchasing manager at Scottish import Finefood, Germany's largest salmon importer based in Mainz, said that while things were a little better than six weeks ago, the premium of Scottish salmon over Norwegian fish remained at the high end
of the historical average.
The German company has imported 10,000 tonnes of salmon so far this year, 2,000 tonnes of which came from Scotland
.

"If you have to think about your wallet, then salmon is not your first demand, I think we will have more of that early next year, maybe we will see demand go down
," the importer said.
”

In the UK, many processors are also turning to multi-production fish sourcing due to a low supply of Scottish salmon, said Amy Salisbury, former Grieg sales manager and founder of Special & Co
.

At the China Salmon Industry Development Summit Forum on November 28, Scottish International Development Manager Wang Juhua said: "From the data point of view, Scottish salmon exports have fully recovered from the epidemic in 2021 and achieved strong growth - the annual export volume was 614 million pounds, nearly 5 billion yuan, an increase of 36% year-on-year, close to the all-time high of 2019
.

Scotland's three major traditional export regions have achieved substantial growth, of which Europe ranks first, accounting for more than 60%; North America ranked second; Asia accounted for the fastest growth at 11%, doubling
at more than 80%.
China led the way, rising 217%, ranking first
in the world.

Geographically, in 2021, Scottish salmon was exported to 52 countries and regions; The top five countries account for nearly 90%.

France is far ahead, accounting for 50%; China ranks third, accounting for 7%, with huge room
for growth.

In the long run, Scottish salmon exports have basically remained at the same level, while showing a certain degree of weak cyclicality, with fluctuations of about two to three percent in the next year
.

In the first half of 2022, Scotland's exports fell relatively in the first half of 2022, but prices continued to be high due to Brexit, inflation, the Russian-Ukrainian war and other factors
.
We predict that Scottish salmon exports will rebound rapidly again in 2023, and China's huge market and purchasing power will also take the opportunity to continue to expand its share
.

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