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in the coming years.
After contracting by 1% this year to about 2.
7 million tonnes, global salmon supply is expected to increase
in 2023 and 2024.
Rabobank senior analysts said supply is expected to grow by about 4% annually over the next two years, with it likely to exceed 3 million tonnes
for the first time in 2024.
"We have negative growth for the first time since around 2016, which means we have very high salmon prices right now," the analyst said
.
for the first time in 2024.
"We have negative growth for the first time since around 2016, which means we have very high salmon prices right now," the analyst said
.
A closer look at forecasts shows that Norway, the world's leading producer, is expected to see a decrease in salmon production of almost 1% this year, while Chile's production will fall by -0.
3%.
Next year, Norway's production is expected to grow by more than 5% to 1.
6 million tons, and then by 1.
8%
in 2024.
Chile, the second largest producer, is expected to grow by 1.
4%, with production exceeding 700,000 metric tons next year, followed by a 3%
increase in 2024.
3%.
Next year, Norway's production is expected to grow by more than 5% to 1.
6 million tons, and then by 1.
8%
in 2024.
Chile, the second largest producer, is expected to grow by 1.
4%, with production exceeding 700,000 metric tons next year, followed by a 3%
increase in 2024.
Scotland produced 200,000 tonnes in 2021 but is expected to decline by 4% this year before increasing by 5% in 2023 and 8%
in 2024.
According to him, Canada's production has been fluctuating for the past two years, but after another small decline in 2023, it should grow by 7% in 2024, boosting production to about 150,000 tons
.
While the Faroe Islands will see production decline this year and next, production will remain around 100,000 tons, but the country is expected to see a 10%
increase in production in 2024.
in 2024.
According to him, Canada's production has been fluctuating for the past two years, but after another small decline in 2023, it should grow by 7% in 2024, boosting production to about 150,000 tons
.
While the Faroe Islands will see production decline this year and next, production will remain around 100,000 tons, but the country is expected to see a 10%
increase in production in 2024.
He noted that other producing countries are becoming increasingly important supply drivers
.
.
Combined production in Finland, China, Russia and Sweden continues to climb to around 240,000 tonnes by 2024, with growth of 6% in 2023 and 15%
in 2024.
Cooonly production, mainly from Chile, is expected to increase by 15% this year to around 230,000 tonnes before declining by 14%
in 2023.
Still, he said, coho salmon appears to be on a long-term growth path
.
in 2024.
Cooonly production, mainly from Chile, is expected to increase by 15% this year to around 230,000 tonnes before declining by 14%
in 2023.
Still, he said, coho salmon appears to be on a long-term growth path
.
