High temperatures hits salmon prices in Scotland and Norway

SALMON prices in both Norway and Scotland have fallen to levels not seen for at least two years with the exceptionally high temperatures which have swept across Europe and the UK being blamed.

Norwegian farmers have been the hardest hit with prices in the mid 40 kroner for 3-5 kilo salmon.

Some experts believe the slide may have other underlying causes and, even if there is some improvement, they are likely to remain low for some time. They point out that last year’s heat-wave was as bad and lasted much longer yet prices stood up reasonably well.

In Norway prices have been down by up to 10 per cent over the past ten days, although in Scotland the decline has been less dramatic.

There is no doubt that that heat has certainly had an impact as consumers switch from cooked meals to salads. Prices usually dip during July and August, but nothing like to the levels of this year. The weather has also affected white fish sales.

Reports from Norway suggest that the country’s fish farmers have been losing money – something thought almost impossible a few months ago when analysts were predicting record high prices throughout 2019. Norwegian 3-4 kilo salmon has been selling at around 43 kroners per kg with 4-5 kilo fish a little higher at NOK 45.

The comparison with prices less than three months ago is quite stark. In June whole fresh salmon was hovering at around NOK 60 per kilo cost.

Scotland has also been coming to terms with a volatile prices situation, although at nothing like the levels of their Norwegian counterparts.

For 2-3 kg salmon prices are down from £5.35 per kg (NOK 57.6) to £5.2 per kg (NOK 56). The hope is that the situation will start to improve as soon as there is a return to more normal temperatures, but so far there is no evidence that the current low prices are leading to an increase in sales.