Reverberations from the unprecedented record sockeye salmon harvest in Alaska in 2022 are still being felt across the Atlantic in Europe, where buyers expect market oversupply and high inventories to push down raw material prices for fish currently being harvested in Alaska.

A "significant decline" over the past two years in the consumption of sockeye salmon in Europe is also having an impact, Thomas Farstad, CEO of Milarex, a large European salmon processor and smoker, told IntraFish.

"It really started with a significant price increase for consumers towards the end of 2021, and then last year we saw a significant reduction in the demand [for sockeye]," he said.