Farmed Salmon Update

Here is another excerpt worth reading regarding the current state of salmon from an e-mail I received last week. It’s not always a pretty picture.

Good Afternoon,

We are seeing the biggest jump in farmed salmon we have ever endured. Here is an explanation from our salmon buyer of what are the driving factors. Please adjust menus if possible……..

Here is what is going on in the Salmon World; Bottom Line is that the World supply is short and anything that is available is being bid up by the customers so that they can secure fish. A lot of areas (Ireland, Scotland, Norway, etc) are switching year classes (which happens every year at this time), and they are short of fish. This will stay in effect for at least the next month to month and a half. Loch Duart will be OUT of fish after next week for about 3 weeks because the fish are too small to market. Chile is producing a little bit of fish, but it is very expensive and is going to Japan or Europe.

Canada is having its own issues as well. They have had some bad weather over the last two weeks, which has caused harvesting problems. Also, one of the big producers was running out of fish, so they cut their harvest schedule from 6 harvests a week to 2. That caused a big shortage out of Canada. Everything combined has driven up the prices and they will go up again next week as well.

I don’t see any relief in sight until the end of April. Certain sizes of Salmon will be tight, certain nationalities of Salmon will be tight, and prices will continue to stay high, or possibly go a little bit higher. With Lent coming up next month, the Salmon Suppliers will have to keep the prices high due to increased demand so price relief will not be coming anytime soon.

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