Price of salmon soars in the Chinese market during year-end New Year
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During the year end and into the first week of 2024, prices of frozen salmon in Beijing and Shanghai soared in the Chinese market. According to a report from the Beijing market, fish sized 7-8 kg/tail from Norway was quoted at CNY 144/kg on 28 December 2023, and those sized 5-6kg/tail from Australia were quoted at CNY 113/kg on 30 December 2023. Fish from Chile was relatively cheaper. See Table 1 for more details.
Date of price quote | Area | Origin | Size (kg) | Price (USD/kg) | Tagged producing date |
3 January | Beijing | Norway | 5-6 | 17.64 | 28 December 2023 |
|
| Norway | 7-8 | 21.53 | 28 December 2023 |
|
| Norway | 8-9 | 21.23 | 28 December 2023 |
|
| Norway | 9+ | 21.53 | 29 December 2023 |
|
| Canada | 8-9 | 19.73 | 28 December 2023 |
|
| Australia | 4.5-5 | 15.40 | 30 December 2023 |
|
| Australia | 5-6 | 16.74 | 29 December 2023 |
|
| Chile | 6-7 | 10.47 | September 2023 |
|
| Chile | 7-8 | 17.94 | 28 December 2023 |
The trend was similar in Shanghai market ( See Table 2).
Date of price quote | Area | Supplier | Size (kg) | Price (USD/kg) | Tagged producing date |
3 January | Beijing | Norway | 6-7 | 21.68 | 29 December 2023 |
|
| Norway | 7-9 | 20.93 | 28 December 2023 |
|
| Australia | 4.5-5 | 14.65 | 30 December 2023 |
|
| Australia | 5-6 | 16.15 | 30 December 2023 |
|
| Australia | 6-7 | 10.47 | 30 December 2023 |
Prices in the first week of January went up by about USD 3.5/kg on average for fish sized at 6-7 kg/tail. Fresh and chilled fish are especially high in demand. The soaring price is attributed in part to the New Year holiday in China coupled with the supply shortage. Since the price for fish from Norway is too high, it is expected that the salmon from Australia may be more attractive to traders in the following weeks.
Source of information: https://mp.weixin.qq.com/s/9sB_PK2OhtWm6iudftC1AA