[Chile, Japan] Due to the algal bloom hitting southern Chile, salmon prices in Japan are going up fast.

In the middle of March, Chilean headed and gutted (H&G) coho (4-6 lbs) is priced at JPY 650-670 per kg on importers’ offer basis, up JPY 50-60 compared to earlier March. Trim C Atlantic salmon is traded at JPY 1,000/kg, up JPY 70-80.

Mortality for Atlantic salmon from the algal bloom is estimated at more than 100,000 metric tons. The damage to coho smolt is said to be 7,000-8,000t, on a harvest size basis.

The bloom is now losing momentum, but “the total damage is not yet confirmed”, said a Japanese importer.

In Japan, the market price has sharply rising as the extent of the damage becomes apparent.

The coho market price is up to JPY 650/kg, and “we cannot find any products cheaper than that level”, the importer noted.

Atlantic salmon prices are also increasing, along with a sharp price hike on trim D in the US market.

The trim D price in the US went up by more than 10 cents within a week.

That affects on pricing of trim C in Japan, and “No product is sold at less than JPY 1,000/kg any more. The price may go up a little further”, a source anticipated.

 

View original article at: Algal bloom impacting salmon prices in Japan