Finnian O’Luasa, Paris Office, Bord Bia –Irish Food Board

The outlook for global Atlantic salmon production is slightly down for 2016 compared to 2015 according to experts presenting at the North Atlantic Seafood forum held in Bergen. The largest producer Norway has had stable productivity for the last few years and is expected to remain stable over coming years due to Maximum Allowable Biomass restrictions. Market demand on the hand has increased in most markets with the main exception being Russia due to the import embargo. However Europe and particularly the US have more than absorbed the gap left by the Russian market. The strength of the US dollar makes the North American market particularly attractive. The Asian market for seafood is predicted to show good growth due to a rising middle class of over 120 M people per year as well as a preference for raw fish. In the long term, looking at a horizon of 2025, supply growth for salmon is expected to be below demand growth leading to sustained prices.

Although Ireland is a small producer in the global stage with less than 1% of global Atlantic salmon production, it is the leading producer of organic salmon with over 80% of Irish salmon production certified organic as described in an earlier food alert. Not surprisingly therefore the main markets for Irish organic salmon are France and Germany which are also the leading European markets for organic food in general and account for over 65% of Irish organic salmon exports in both value and volume.

Salmon is a flexible and convenient product offering many health benefits. It fits ideally into a number of consumer lifestyle trends as identified by Bord Bia research such as health & wellbeing or busy lives.

For more information contact Finnian.OLuasa@BordBia.ie