China's Atlantic salmon imports hit record high in 2023

According to the General Customs of China, China imported nearly 93 000 tonnes of Atlantic salmon in 2023, representing a year-over-year growth of 46 percent (Figure 1 and Figure 2). Notably, the import of fresh and chilled Atlantic salmon saw a robust increase, reaching 80 126 tons, with a staggering year-over-year growth rate of 63 percent. On a monthly basis, an average of 6 700 tonnes of fresh and chilled salmon were imported in 2023.

A total of 39 435 tonnes of fresh and chilled salmon were imported from Norway, maintaining its position as the leading source for several consecutive years. In 2023, the market share of Norwegian-origin fresh and chilled Atlantic salmon reached 49 percent, 1 percent higher than 2022. It is the first time for the Chinese market to surpass the Japanese and Korean markets and become the No.1 destination for Norway in exporting salmon. In the three major markets of Beijing, Shanghai and Guangzhou, the wholesale price of Norwegian salmon was at CNY 130-150/kg (about USD 18-21/kg) in December 2023. Retail price varies, for salmon sashimi in the Shanghai market it was about CNY 300/kg (about USD 42/kg).

Chilean-origin salmon secured the second-highest market share, with China importing 17 282 tonnes in 2023. This marked a 2.6-fold increase compared to 2022, and the market share further increased to 21.6 percent. This growth may be attributed to cost advantages and optimized shipping routes from Chile to China during the second and third quarters of 2023 (Figure 3). Compared with Norwegian-origin salmon, Chilean-origin salmon is sold at a lower price, since most are frozen products. Its wholesale price was at about CNY 95-115/kg (about USD 13-16/kg) and its retail price in Shanghai was about CNY 140/kg (about USD 20/kg) in December 2023.

Australia ranked third among the sources, with China importing 14 200 tonnes of salmon in 2023. Australian salmon is characterized by its proximity to the Chinese market and fast shipping times, although its supply is somewhat affected by season. The fourth and fifth-ranking sources were the Faroe Islands and the United Kingdom of Great Britain and Northern Ireland, accounting for 5.4 percent and 3.6 percent of the total market share, respectively. The combined market share of these top five sources was 97.5 percent. As for the prices, the wholesale price in China was at CNY 100 -125/kg (about USD 14-17.6/kg) in December 2023.

Figure 1 Importation of total frozen salmon in 2022 and 2023

Figure 2 Importation of total fresh and chilled salmon in 2022 and 2023

Figure 3 Average indicative prices for fresh and chilled salmon, from different producers in 2023