Scottish salmon and Malaysian palm oil—two seemingly disparate commodities—are both riding waves of international demand in 2025, setting the stage for record-breaking export performances and underscoring the global appetite for premium food products. As new trade deals reshape access to lucrative markets and shifting currency dynamics alter competitive landscapes, producers and traders alike are seizing opportunities and bracing for challenges in a fast-evolving global market.
According to Salmon Scotland, the trade body representing the nation’s salmon sector, Scottish salmon export sales soared by an impressive 33 percent to £941 million (US$1.27 billion) in the twelve months leading up to the end of June 2025. This surge puts the industry tantalizingly close to the coveted £1 billion milestone—a threshold that, if crossed, would mark a historic first for the sector. The momentum shows no signs of slowing: in just the first six months of 2025, Scottish salmon exports were valued at a remarkable £528 million (US$715 million), setting the pace for what could be a truly banner year.
What’s driving this success? For one, international demand is booming. The United States, China, Taiwan, and Canada have all posted significant increases in their import value of Scottish salmon, according to figures released by Salmon Scotland. In fact, the United States stands out as a particularly fast-growing market, with American consumers developing a growing taste for what many consider one of the world’s finest farmed fish. However, the sector’s optimism is tempered by ongoing concerns about tariffs—especially those imposed by the US. First Minister John Swinney even raised the issue with President Donald Trump during a recent meeting, highlighting the importance of tariff-free access for Scottish producers.
"These latest export figures show another period of remarkable success for Scottish salmon," said Tavish Scott, Chief Executive of Salmon Scotland. "They reflect the hard work of our farmers and the growing global demand for our nutritious fish." Scott’s comments, reported by local outlets, echo the praise from both UK and Scottish government ministers, who have welcomed the sector’s contribution to the economy and its role as the UK’s largest food export.
France remains the undisputed heavyweight among Scottish salmon’s international customers, accounting for nearly 45 percent of exports in the year to June 2025. Yet, the story is more nuanced: while EU export sales dipped by 7 percent to £423 million (US$573 million), non-EU sales surged by a staggering 106 percent to £518 million (US$702 million) on a rolling annual basis. This shift reflects not only the changing tides of global trade but also the impact of new and evolving trade agreements. Salmon Scotland, for its part, has pointed to the recent UK-EU trade deal as an opportunity to further boost European sales, even as US tariffs encourage some rival producers to set their sights on the European market.
Looking ahead, Scottish salmon producers are eyeing India—the world’s third-largest fish market—as the next big frontier. Thanks to a new free trade agreement between the UK and India, tariffs on Scottish salmon exports to India are set to be slashed, opening the door to a vast and potentially transformative customer base. Industry insiders are already preparing to tap into this lucrative market, banking on the reputation of Scottish salmon as a premium product and the promise of lower barriers to entry.
Meanwhile, on the other side of the globe, Malaysian palm oil is experiencing its own surge, fueled by robust export demand and favorable price movements. As reported by Reuters, Malaysian palm oil futures extended their gains for a second consecutive session on Monday, August 18, 2025. The benchmark palm oil contract for November delivery closed at 4,560 ringgit (US$1,080.57) per metric ton, up 49 ringgit or 1.09 percent from the previous session.
The rally in palm oil prices is being driven by a confluence of factors. First and foremost, export demand has jumped dramatically. Cargo surveyors estimate that palm oil exports during the first half of August (August 1-15) rose between 16.5 percent and 21.3 percent compared to the previous month—a clear sign that global buyers are snapping up supplies. David Ng, a proprietary trader at Kuala Lumpur-based Iceberg X Sdn Bhd, told Reuters, "Crude palm oil rallied above 4,500 ringgit on the back of a recent surge in palm oil demand." He also noted that higher palm olein prices during Asian trading hours have helped lift overall palm prices.
Palm oil doesn’t exist in a vacuum, of course. Its price movements are closely tied to those of rival edible oils, as the commodity competes for a share of the massive global vegetable oils market. On the same day, Dalian’s most-active soyoil contract rose 0.05 percent, while its palm oil contract climbed a notable 1.89 percent. In contrast, soyoil prices on the Chicago Board of Trade were down 0.56 percent, highlighting the complex interplay of global supply and demand across related commodities.
Currency fluctuations are also playing a pivotal role. The Malaysian ringgit, the currency in which palm oil is traded, weakened by 0.24 percent against the US dollar on August 18, making Malaysian palm oil cheaper for foreign buyers and further boosting export competitiveness. As a result, traders with access to stronger currencies have found Malaysian palm oil to be an even more attractive option, particularly as stronger crude oil futures make palm oil a viable feedstock for biodiesel production.
Geopolitical developments are casting their own shadow on the commodities market. Oil prices held steady as traders awaited the outcome of a high-stakes meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy, who are seeking a path to peace in what has been called Europe’s deadliest war in 80 years. While the outcome of such talks remains uncertain, the potential for shifts in energy markets adds another layer of complexity to the palm oil outlook.
For both Scottish salmon and Malaysian palm oil, the common thread is clear: adaptability and strategic positioning are more important than ever. With demand surging in key markets and new trade agreements reshaping the playing field, producers are both celebrating recent successes and preparing for the challenges that lie ahead. Whether it’s Scottish salmon farmers eyeing expansion into India or Malaysian traders capitalizing on favorable currency swings, the global food trade in 2025 is anything but static.
As the year unfolds, all eyes will be on whether Scottish salmon can finally break through the £1 billion export barrier and if Malaysian palm oil can sustain its momentum amid shifting market dynamics. One thing’s for sure: the appetite for these global staples shows few signs of waning, and the next chapter in their export stories promises to be just as compelling.
