The global harvest of farmed Atlantic salmon in the fourth-quarter of 2017 increased by 16.1 percent year-on-year to 603,400 metric tons (MT). With prices for the product continuing the declining trend seen in the previous quarter, the worldwide consumption climbed by 11.9 percent, according to Marine Harvest.
In its Q4 trading statement, the salmon producer stated that the total salmon supply from Norway increased by 11.2 percent to 321,800 MT, compared with the corresponding three months of 2016. In the same period, the volumes from Scotland (40,300 MT), Chile (158,000 MT), North America (38,800 MT) and Australia (16,400 MT) increased by 10.1 percent, 36.6 percent, 3.9 percent and 43.9 percent year-on-year respectively.
There were, however, reduced volumes from the Faroe Islands (18,500 MT, down 8 percent) and Ireland (3,900 MT, down 4.9 percent).
Marine Harvest said the growth in feed consumption, favorable seawater temperatures and higher biomass supported the increased supply from Norway, while the higher than expected Chilean harvest was driven by strong feed sales, higher opening biomass than forecast and harvesting at heavier weights.
The growth in Scottish volumes were partially the result of accelerated harvesting due to challenging biological conditions, it added.
In local currencies, the average price paid for salmon in Europe in Q4 2017 decreased by 30.5 percent year-on-year to EUR 5.13 (USD 6.37) per kg, while the prices in Miami (USD 4.73, EUR 3.81) and Seattle (USD 3.24, EUR 2.61) fell by 14.8 percent and 14.3 percent respectively.
At 578,500 MT the global consumption of the product in the last quarter was around 25,000 MT less than the total volume harvested, which meant there was an inventory build up in the three months, mainly in Chile.
In volume terms, consumption in the EU increased by 6.9 percent in the last quarter to 268,200 MT. Russia also increased its salmon consumption as its sourcing from the Faroes gathered pace.
U.S. consumption increased by 17 percent compared with Q4 2016 to 103,100 MT, driven by growing imports of Chilean and European salmon. For the calendar year, U.S.consumption reached an “impressive” 396,000 MT, said Marine Harvest.
Consumption in the Asian market (74,600 MT) increased by 22.1 percent, with the Chinese market growing strongly due to increased imports from Australia and Chile.
