With China’s further tightening of air transportation restrictions, the wholesale price of imported salmon in China has soared to a record high.
China’s main salmon air cargo hubs, Shanghai and Guangzhou, have imposed import restrictions on all cold chain cargoes since early August. Due to cargo backlog and labor shortage, the terminal has suspended operations.
According to media reports, wholesale prices of imported salmon in Shanghai and Guangzhou have soared to record highs due to supply shortages. As of September 17, the wholesale price of Norwegian salmon has risen to US$16/kg, while the wholesale price of salmon in the Faroe Islands has reached US$17.5/kg.
Air freight capacity has dropped to 30-40% of normal levels, while air freight prices have soared by 100-200%. Shanghai Airport Customs has implemented freshness restrictions, requiring all seafood products to be packaged with lined bags and internal standards. Otherwise, the product must be returned or destroyed.
A salmon processor in Shanghai said that many companies are facing a dilemma. They have to keep their factories running and supply products to customers. The high prices of raw materials have caused them to lose money. Another salmon processor in Guangzhou predicts that imported salmon prices will continue to soar in November and December, and supply chain disruption is unlikely to be resolved in the short term.
