Salmon prices on floor – but worst may be over

Fresh salmon prices slumped to the lowest level of the year in Norway last week, according to the latest data.

Statistics Norway, which monitors prices on a weekly basis, says they fell to NOK 76.82 per kilo, the lowest figure for almost 12 months when they bottomed at NOK 75.15 per kilo.

The figures were calculated before heavy storms hit the Nordland region earlier this week, severely disrupting the shipment of salmon from that part of the country for two days.

It may be that the weather will push up prices this week, but it is only likely to be a temporary situation.

On Tuesday Helge Kvalvik, the chief executive of the fish farming company Måsøval said that salmon prices had been on a roller coaster ride in recent weeks – and he was not wrong.

The trend has been generally downwards since Easter when they were around NOK 120 per kilo.

However, the general feeling in Norway is that the low prices of the past few weeks are not expected to continue and should start to climb back up from next month as the peak holiday season draws to a close.

Last week’s figures show fresh salmon fell back by NOK 4.07 per kilo or around 5% on the previous week.

Thanks to the price decline, export figures continue to be quite strong and in week 33 they came out at 24,242 tonnes, an increase of 13.5% on week 32 when the figure was 21,367 tonnes.

Frozen salmon only makes up a small proportion of the export picture, but their prices also fell last week—by just over five kroner to 81.81 per kilo.