In the two weeks leading up to Mother’s Day, Atlantic salmon producers worldwide were almost giddy with excitement. Panic buying had set in, and whole fish prices were breaking records daily. But do you know what the “cure” for high-priced salmon is? High prices, of course! You see, when salmon prices go up and up and up, “demand destruction” kicks in.
Customers change their behavior, and less salmon is consumed. At the same time, producers rush to get more salmon out of the water (greed) to cash in on the high market, and voila! Too much salmon and too few buyers. It is a vicious cycle.
Some sizes of whole Norwegian salmon fell over $1 per pound this week. (Full Article)
5/16/2022
