Salmon prices down again, but exports at record levels

Norwegian fresh salmon prices slipped further last week despite predictions they are set to recover over the next few months.

The decrease was small, however, with prices down from NOK 73.95 per kilo (£5.23) seven days earlier to NOK 73.08 per kilo (£5.17) last week.

The change represents a dip of 1.1%, says Statistics Norway, which monitors salmon prices on a regular basis. Prices remain at their lowest point for at least two years.

The brighter news was that exports volumes hit their highest level so far this year, totalling 26,416 tonnes, almost 1,000 tonnes up on the previous week.

It is clear that the demand for salmon is not only robust but increasing, with the downward price trend almost certainly playing a big part.

However, the decline in the value of the krone is also playing a major part. It was down against the euro and US dollar again this week.

In fact, export volumes are now around double what they were just six months ago, which is quite remarkable.

Predictions that prices will start climbing again as the peak buying season approaches remain, but at the moment it is a question of when that will start.

Recent infectious salmon anaemia (ISA) outbreaks, forcing early harvests, mean that plenty of small fish have become available.

Frozen salmon volumes were higher, increasing from 495 tonnes to 591 tonnes with prices slightly down at NOK 79.65 per kilo (£5.45).