CATEGORY
Salmon
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Category Alerts
Norwegian salmon exports in July clocked 95,000 tonnes
August 04, 2022Norway moots salmon tax of 40 percent
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Salmon Market Monitoring Dashboard
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Salmon Industry Benchmarks
Savings Achieved
(in %)
The average annual savings achieved in Salmon category is 5.30%
Payment Terms
(in days)
The industry average payment terms in Salmon category for the current quarter is 75.6 days
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Category Strategy and Flexibility
Engagement Model
Supply Assurance
Sourcing Process
Supplier Type
Pricing Model
Contract Length
SLAs/KPIs
Lead Time
Supplier Diversity
Targeted Savings
Risk Mitigation
Financial Risk
Sanctions
AMEs
Geopolitical Risk
Cost Optimization
Price per Unit Competitiveness
Specification Leanness
Minimum Order Quality
Payment Terms
Inventory Control
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Salmon market report transcript
Global Seafood Market – Overview
The global seafood industry is highly fragmented, with a supply of approx. 170.9 MMT of fishes annually (both wild caught and aquaculture, 2018) and is estimated to reach 180 MMT in 2020.
Fish capture over the decade has taken a more inland approach, with the major capture type being aquaculture and tuna, shrimp, salmon are the most captured and traded species
- Aquaculture currently holds 48 percent of market share, and it is expected to increase its share in the total capture beyond 50 percent by the end of 2021
Market Drivers and Constraints
Drivers
Increasing demand for processed/ready-to-cook seafood:
- The seafood industry is gaining momentum, due to convenience and time saving factors
- Increasing disposable income and per capita consumption are also seen favorable for the growth of the industry
R&D/technology:
- Aquaculture is gaining dominance over traditional agricultural practices, wild fish harvesting, etc., due to its volume production
Constraints
Shorter shelf life and disease outbreaks:
- Disease outbreaks can occur both during raising and processing seafood. EMS or Early Mortality Syndrome had caused a substantial decrease in the shrimp production of the leading countries, like China, Vietnam, Indonesia, etc.
Government regulations:
- Every country has its own control mechanism to prevent overfishing and the exhaustion of its resources. Countries, like Thailand, China, have fishing quotas and licenses in place, with respect to their fisheries and seafood industry
Supply–Demand Analysis – Salmon
The global salmon production is estimated to reach 4.1 MMT by 2020 at a growth rate of 4 percent, and the growth will be mainly due to the increasing adoption of salmon farming or aquaculture (currently, more than 80 percent of the global supply is farmed salmon).
- Currently, more than 70 percent of salmon supply is through aquaculture than wild capture, with Norway (CAGR 7 percent) and Chile (CAGR 9 percent) accounting for the major share in harvesting aquaculture supply; and Sweden and Norway accounting for majority share occupying capture supply
- Salmon production is expected to slow down in the future, with industrial biological footprints being the growth constraint