Discover the Leading Markets for Chilean Farmed Salmon

With exports reaching $6.366 billion in 2024, salmon has become Chile’s second most exported product after copper, positioning the sector as a key economic driver. Its impact goes beyond national borders, with a presence in some of the most demanding markets in the world, such as the United States, China, and Japan.

How are these exports distributed, and what trends are shaping global trade for Chilean salmon? Let’s break it down.

General Data on Chilean Salmon Exports

The current distribution of global salmon and trout production is concentrated in a few countries, with Chile being the second-largest producer globally, accounting for 31% of the total:

• Norway 45%
  
• Chile 31%
  
• Others 11%
  
• United Kingdom 5%
  
• Canada 3%
  
• Faroe Islands 3%
  

In Chile’s national production, between January and October 2024, five Chilean farm raised salmon companies concentrated 56% of exports, while the top 10 exporters accounted for 77% of sales abroad.

During this period, Atlantic salmon represented 67% of the volume exported, Pacific salmon (coho) accounted for 27%, and trout made up 6%. The volume of Atlantic salmon declined by 6% compared to the previous year, while farm raised salmon coho increased by 26%, although revenue from this type of fish grew by only 15%.

The most exported format was fresh Atlantic salmon fillets (28%), followed by whole fresh Atlantic salmon (19%), frozen Atlantic salmon fillets (15%), and finally, frozen H/G coho (12%).

Buyer Countries for Chilean Farmed salmon

From January to November 2024, the exports were as follows:

• United States: 2.184 billion dollars
  
• Japan: 808 million dollars
  
• Brazil: 770 million dollars
  
• Other countries: 542 million dollars
  
• Latin America: 305 million dollars
  
• China: 231 million dollars
  
• European Union: 183 million dollars
  
• Russia: 162 million dollars

United States

In the indicated period, exports of Atlantic salmon, coho, and trout to the world’s largest economy reached 2.184 billion dollars. This represents a decrease of 7% in volume and a 9% drop in value compared to 2023.
By tonnage, North America acquired 310,033 tons by October 2024.

Japan

Exports to Japan totaled 808 million dollars between January and October 2024. Compared to 2023, the volume sent increased by 26%, reaching 167,359 tons. Meanwhile, the value in dollars grew by 16%.
As a trend, most of the exports were frozen Pacific farm raised salmon in H/G format.

Brazil

Shipments to Brazil totaled 770 million dollars, marking an 11% increase in dollar value compared to 2023. In terms of tonnage, there was a 13% increase, reaching 119,478 tons.
The most purchased product by the South American giant was fresh whole Atlantic farm raised salmon.

Russia

Sales to Russia reached 162 million dollars, a 45% decrease from 2023. In terms of tonnage, shipments amounted to 26,419 tons, marking a 40% drop. Most of Russia’s purchases were frozen whole Atlantic farm raised salmon.

China

The Asian giant purchased Atlantic salmon, coho, and trout for a total of 231 million dollars. This represented an 18% decrease in dollar value. In terms of tonnage, the volume sent dropped by 9%, totaling 35,226 tons.
Of this, 56% of exports were whole fresh Atlantic farm raised salmon, 29% was frozen, and 10% of the shipments were frozen coho in H/G format.

Chilean Salmon’s Global Position

Chilean farm raised salmon is not only one of the country’s main exports but is also strengthening its position in the world’s most demanding markets. With a constantly evolving competitive environment and changes in global demand, the challenge now is to increase its competitiveness, differentiation, sustainability, and added value to continue growing in key markets.