HS Code:
The Salmonidae category, under HS Code 0302 to 0303 (excluding edible fish offal of subheadings 0303.91 to 0303.99), includes fresh, chilled, or frozen fish of the Salmonidae family such as salmon, trout, and char. This category is significant in global trade due to high demand for salmon and trout in both fresh and processed forms, driven by their nutritional value and popularity in cuisines worldwide. Salmonidae products are primarily traded as whole fish, fillets, or smoked variants, with a focus on sustainable aquaculture and wild-caught sources. The trade is influenced by seasonal availability, environmental regulations, and consumer preferences for sustainably sourced seafood.
Total Trade Volume
USD 25.3 billion
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO)
USD 11.2 billion
44.3% of total trade of total trade
Increasing
USD 6.8 billion
26.9% of total trade of total trade
Increasing
USD 1.5 billion
5.9% of total trade of total trade
Stable
USD 1.3 billion
5.1% of total trade of total trade
Increasing
USD 1.1 billion
4.3% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
15% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-Norway or USMCA)
Rising demand for sustainably sourced salmon
Increased market share for certified aquaculture products, pushing producers to adopt eco-friendly practices
2021-2022
Growth in plant-based salmon alternatives
Minor competition for traditional salmon markets, particularly in developed countries with vegan trends
2022
Expansion of aquaculture in emerging markets
Potential oversupply in global markets, affecting price stability for salmon and trout
2020-2022
Negotiations concluded for reduced tariffs on Salmonidae products between Norway and Chile, enhancing market access.
June 2023
Expected to increase trade volume by 10% over the next two years, benefiting exporters and consumers with lower prices.
The European Union introduced stricter sustainability certification requirements for imported salmon and trout products.
March 2023
Smaller producers may face compliance costs, potentially reducing their market share in the EU.
The United States initiated an investigation into alleged dumping of Chilean salmon, which could lead to additional tariffs.
September 2023
Possible short-term price increases for Chilean salmon in the US market, shifting demand to other suppliers.