Salmon prices falling on Russian market

Salmon fish species rank the third in the list of most consumed products in Russia, according to Russian Fish Insider Report published by http://www.megafishnet.com/.

The catch volume of salmonids in the Russian Far East has been increasing (it is expected that in 2011 it will amount to nearly 430,000 tonnes that is 26% more in comparison with 2010 level), while the world market of Atlantic salmon and trout tends to overstocking.

Chilean aquaculture industry has been reviving and Chilean salmon has competed with Norwegian salmon on American and Japanese markets.

As a result, wholesale prices of Norwegian salmon in Moscow decreased by 17% from RUR300.00 per kilo (as per March 2011) to RUR250.00 per kilo (as per mid-June 2011), while the price of pink salmon originated from the Russian Far East dropped by 33%-36% from RUR 90.00 - 95.00 per kilo to RUR60.00 per kilo and less.

According to market players, Chilean trout prices continue falling due to good inventories in Murmansk and St. Pete. The prices of salmon caviar decreased as well, due to increased catches of salmon species.

Revival of Chilean industry, increased catches of salmons in the Russian Far East, seasonal decrease of demand and other factors contributed to fall of spot prices in Norway as well as to decrease of wholesale prices of chilled Norwegian salmon which crossed the psychological barrier of RUR 300.00 per kilo in 2010.