Salmon prices in drop mode

Fresh salmon prices have continued to slide as the trade enters the peak summer holiday period.

Statistics Norway, which monitors trends on a regular basis, reports they fell by NOK 4.35 per kilo last week (week 29).

The export price came out at NOK 92.67 (£7.10) per kilo, a drop of 4.5% on the previous week. The price is also the fourth lowest figure this year.

The highest price achieved for fresh salmon so far this year was NOK 120 (£9.2)per kilo in week 16.

Export volumes remained steady at 17,989 tonnes, marginally up on the week 28 figure.

A sharp price decline is not unusual at this time of year; many people are on holiday so are not following their normal food shopping habits. Also with much of Europe wilting under the worst heatwave yet, few are spending much time in the kitchen.

It is being reported that another factor affecting prices could be the high volumes of Infectious Salmon Anaemia(ISA) fish currently being slaughtered. Several Norwegian fish farms have been hit by ISA outbreaks during the past few weeks.

Some analysts are predicting that they could drop to around NOK 80 per kilo before the end of the summer. They say there is no need to worry as prices will pick up again by the end of August.

Frozen salmon exports were down by more than 50% at 125 tonnes, but the price rose from NOK 93.06 (£7.08) per kilo to NOK 105.3 (£8)per kilo.

The Statistics Norway figures also includes all weight classes and fish sold under contract.