The world fish trade is forecast to hit an all-time high this year, helped by the economic recovery in key European importers, as well as high prices of popular fish such as salmon, according to the UN Food and Agricultural Organization.

The value of the global fish trade is expected to rise more than $150bn this year, an increase of about 7 per cent compared with 2016, putting 2017 on course to eclipse the previous record of $149bn in 2014 as demand for salmon and shrimp increases, said the FAO. International trade in fish had experienced “sustained demand from a number of the traditional import markets like US, Japan, France and Spain,” said Sigbjorn Tveteraas, professor of industrial economics at University of Stavanger in Norway.

Fish has been the largest traded food commodity, supported by the growth in aquaculture, which has been the fastest growing food production sector over the past 20 years. Rising incomes in developing countries has spurred greater consumption of meat and fish. Compared with most other agricultural businesses, such as grains, fish producers have offered higher returns.

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