Italy: According to the FAO document, salmon’s share in world fishery trade has increased strongly in recent decades to 14 percent thanks to expansion of salmon and trout aquaculture production in northern Europe and in North and South America. Overall, demand has grown steadily in most markets and it is expanding geographically, in particular for farmed Atlantic salmon, also through new varieties of processed products. However, in recent years, supply has been more variable, mostly as a result of disease-related problems in Chile, FAO says. “The State of World Fisheries and Aquaculture 2014” claims that prices of farmed salmon fell drastically in the second half of 2011 and took several months to stabilize. The recovery began in late 2012, and the salmon market witnessed a positive price trajectory, lifting export revenues to record levels, particularly for Norwegian producers supplying markets in the European Union (Member Organization). In the third quarter of 2013, this price trend was reversed as a result of some evidence of weakening demand, as higher costs of raw material filtered down the value chain. However, it appears that the market balance should be sufficiently tight to halt the decline in 2014. Finally, this report says that Norway remains the dominant producer and exporter of Atlantic salmon. In Chile, the second major producer and exporter, the industry is undergoing an important transformation process in response to the current financial crisis and in order to address higher production costs resulting from stricter production regulations. Chilean farms continue to suffer from disease problems and high feed costs that compound an overall production efficiency disadvantage. You can download the entire report here.