Norwegian salmon prices on floor again

Fresh salmon prices in Norway dropped further last week, hitting the lowest point for more than a year.

According to Statistics Norway, which monitors prices on a regular basis, they went down to 84.87 per kilo in week 24.

The previous low point was week 22 when they were on the floor at NOK 92.20 per kilo.

It was forecast then that they still had further to go, but forward reports suggest that they have now hit the bottom and should start climbing back by the end of June.

So far price trends have been largely unpredictable and often contradictory, but the Norwegian industry will not be happy as it continues to face steadily increasing costs and new tax demands.

Last week’s figure represents a fall of 8% on week 23, said Statistics Norway. The better news is that there is no fall off in demand.

Earlier this month Seafood Norway reported strong sales to countries such as the Netherlands, Spain and Portugal. Export volumes are generally holding up well and if retail prices fall in line with export prices, demand should remain buoyant.

The export volume figure for fresh salmon was 16,797 tonnes against 16,605 tonnes the previous week. This represents an increase of 1.2%.

In contrast, frozen salmon prices went up by just over NOK 6 to NOK 85.45 per kilo on a lower volume figure of 281 tonnes.

Statistics Norway figures include all weight and quality classes.