Salmon prices slump below NOK 100 a kilo

The slide in fresh salmon prices in Norway continued at pace last week, dropping to levels not seen for more than a year.

They came out at NOK 92.20 (£6.80) a kilo in week 23 (3 June to 9 June) – falling by NOK 12.70 or almost £1 on the previous week.

Some of the slide since Easter has been down to the quality of fish, especially in relation to winter sores, but that problem is largely behind the industry and still prices are continuing to fall.

The latest figures from Statistics Norway show they fell by 12.1% in week 23 reaching an 18-month low.

Prices also fell sharply in the same week last year, but were still averaging over NOK 100 per kilo.

Demand remains healthy with exports up by more than 1,500 tonnes and totalling 16,605 tonnes. This is the highest total so far this year and 10% up on week 22.

With production costs and tax demands continuing to rise, the industry will be hoping that the recent falls are a temporary aberration, but no-one is sure.

It is only a few months ago that some analysts were talking of record prices levels in 2024 The high summer season when prices traditionally fall back is now only a few weeks away.

Even frozen prices, which are usually pretty stable, fell sharply last week. They dropped from NOK 92.19 to NOK 79.34 per kilo on a 200 tonne plus reduced volume of 433 tonnes.