The salmon industry will again be the most profitable aquaculture sector in 1H 2024. High prices, albeit slightly less high than in 1H 2023, will combine with marginally lower feed costs and lower biological costs to support strong farmer profitability.
It is hard to see when the shrimp industry will stabilize. Without a supply reduction, prices will remain at low levels. A key concern is weakness in Chinese import demand. While Chinese demand may still be positive, high inventory levels and a slightly lower renminbi will dampen a shrimp price recovery.
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