New Sourcing Initiatives and Changes in the Salmon Market

Maruwazu has traditionally handled mainly Norwegian salmon, but since April we have started offering Canadian salmon from CERMAQ. Due to factors such as exchange rate fluctuations and rising aquaculture costs, Norwegian salmon has continued to face price increases and unstable supply conditions. In response to these circumstances, we introduced CERMAQ salmon as a new sourcing option as part of our efforts to diversify production areas while maintaining stable supply and product quality.

The Canadian salmon we have newly introduced is raised in rich natural environments and cold waters, resulting in a vibrant and deep orange-colored flesh. CERMAQ salmon is also known for its rich fat content and even marbling, giving the fillets an attractive appearance that makes them highly suitable for sushi, sashimi, retail products, and various other applications. Despite its rich flavor, it has a clean and easy-to-eat taste profile.

However, the salmon market continues to remain at a high price level due to rising aquaculture costs, changes in sea temperatures, and increasing feed prices. While the introduction of CERMAQ salmon is part of our response to these market conditions, both Norwegian and Canadian salmon continue to be significantly affected by rising prices, making stable supply increasingly challenging.

In Canada, the aquaculture industry is also currently undergoing major changes aimed at protecting wild salmon populations. The industry is shifting away from traditional open-net pen farming in coastal waters toward environmentally conscious land-based aquaculture systems. As a result, concerns are growing regarding future impacts on production systems and supply volumes. Increased capital investment and production costs are also expected, and the environment surrounding Canadian salmon production may continue to evolve in the coming years.

In recent years, domestic Japanese salmon has also gained a stronger presence in the market. More companies across Japan are entering the aquaculture business, and it is said that there are now more than 200 domestic branded salmon products available. The appeal of being domestically produced and relatively affordable has become a major advantage, making domestic salmon a strong competitor to imported products.

Consumer trends are also changing. Due to rising prices overall, many consumers are prioritizing staple foods such as rice, leaving less room in household budgets for side dishes and premium seafood products. In addition, while sushi remains popular among international visitors to Japan, growing interest in other types of Japanese cuisine has also begun to influence salmon demand trends.

Even in this changing environment, Maruwazu remains committed to responding flexibly to market and industry changes while continuing to explore a wide range of sourcing regions and products in order to deliver better products to our customers.