Update

Global aquaculture update 1H 2026: Despite geopolitical tensions, there is optimism in seafood markets

3 February 2026 15:00 RaboResearch

Tight salmon supply may lift prices, shrimp stays firm despite inventory limits, and fish meal prices hold high amid Peru’s low quota and weaker soymeal correlation.

Intro

    Salmon prices might strengthen through 2026, underpinned by constrained supply growth and potential nearterm tightness, with US and European demand remaining key swing factors. Shrimp markets are likely to stay firm in the first half of 2026, although inventories, tariff effects, and uneven demand may cap upside. Fish meal prices have faced upward pressure due to Peru's lower-than-expected quota, while signs of decoupling from soymeal suggest prices could remain elevated relative to historical norms.

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