US Imports of Atlantic Salmon Strong while Canadian Exports Plummet
US trade data released this week shows continued strong demand for Atlantic Salmon, the high-protein fish that is a favourite with U.S. consumers. US imports in January rose 7.5% in volume terms, reaching over 36 million kgs (US$ 472 million).
Atlantic salmon: Fillets and Whole Fish- shares and Canada
Canada is the third largest exporter of Atlantic salmon, a segment that includes whole fish, fillets and meat. The table to the right, shows the value of each Atlantic salmon product category imported by the US in 2022. Fresh farmed fillets account for just over half of all US imports of Atlantic salmon, frozen fillets and whole fish (fresh, farmed) follow with approximately 25% each.
Canada’s primary export product is fresh farmed whole fish, which accounted for 90% of Canadian Atlantic salmon exports to the US last year.
Canada’s exports of farm-raised whole Atlantic Salmon (whole fish) continue to plummet
The US imported over US$ 1.2 billion of fresh farmed Atlantic salmon (whole fish) in 2022. Canada is the top exporter to the US in this segment and has historically accounted for over half of the US imports. Proximity to the massive U.S. market and reputation for product quality are huge competitive advantages enjoyed by Canada, which also has a positive carbon advantage because of shorter distances to market. However, dramatic production cuts, related to the closure of farms in BC’s Discovery Islands has translated into falling exports to the US which are continuing (and worsening) heading into the new year. In January, Canadian exports of farm-raised Atlantic salmon (whole fish) fell 47% from last year’s levels and were down 35% from December’s already-low sales (volume). With the sharp drop in US sales, Canada’s market share has dipped to 30% heading into the new year, with huge gains going to exporters in Norway, Chile and the UK.
Please visit trade flash dashboard where you can view more details on Canada’s exports to the US by specific farmed product.