U.S. Preserved Salmon Export Falls Dramatically to $5.7M in April 2023
U.S. Preserved Salmon Exports
Preserved salmon exports from the United States shrank notably to 790 tons in April 2023, waning by -18% against the previous month’s figure. In general, exports recorded a deep slump. The most prominent rate of growth was recorded in August 2022 when exports increased by 87% m-o-m.
In value terms, preserved salmon exports plummeted to $5.7M (IndexBox estimates) in April 2023. Overall, exports showed a abrupt descent. The growth pace was the most rapid in August 2022 when exports increased by 107% against the previous month.
Exports by Country
Canada (377 tons) was the main destination for preserved salmon exports from the United States, accounting for a 48% share of total exports. Moreover, preserved salmon exports to Canada exceeded the volume sent to the second major destination, Australia (125 tons), threefold. Mexico (103 tons) ranked third in terms of total exports with a 13% share.
From April 2022 to April 2023, the average monthly rate of growth in terms of volume to Canada totaled -5.4%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Australia (-9.8% per month) and Mexico (+4.2% per month).
In value terms, Canada ($2.7M) remains the key foreign market for preserved salmon exports from the United States, comprising 48% of total exports. The second position in the ranking was taken by Australia ($878K), with a 15% share of total exports. It was followed by Mexico, with a 13% share.
From April 2022 to April 2023, the average monthly growth rate of value to Canada amounted to -7.1%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Australia (-9.0% per month) and Mexico (+1.4% per month).
Export Prices by Country
In April 2023, the preserved salmon price amounted to $7,216 per ton (FOB, US), shrinking by -3.4% against the previous month. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 when the average export price increased by 10% m-o-m. As a result, the export price attained the peak level of $8,750 per ton. From September 2022 to April 2023, the the average export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Belgium ($8,565 per ton), while the average price for exports to the Netherlands ($5,303 per ton) was amongst the lowest.
From April 2022 to April 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.
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