Chilean salmon prices are likely to recover after a 2023 dip, helped by strong demand in the US and low global supply, says Norway’s DNB Bank, the largest lender to the global seafood industry. Chilean salmon prices fell 7% in the last year, hit by biological challenges, including climate change and rising sea lice levels. Prices for the main competitor, Norway, rose in 2023, opening up a price arbitrage between the two commodity prices. Norway gets higher prices in the US compared with Chile, partly because of a country-of-origin premium. However, the Scandinavian market also sells a greater share of fish that has never been treated with antibiotics in the US, which also fetches higher prices [...]
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