Norwegian salmon price slowly moving up again

The fresh salmon market is back on an upward trend in Norway again, for the first time in several weeks.

But the increase is small, at just 1.4% according to the national monitoring organisation, Statistics Norway.

The average week 37 figure went up by NOK 1.4 per kilo to NOK 74.12 per kilo (£5.30), which was around the average price two years ago.

Export volumes remain robust and last week totalled 27,899 tonnes, almost 1,500 tonnes or 5.6% higher than during the previous week.

With export volumes double what they were seven months ago – which in itself is quite remarkable – this shows that the market is still hungry for fresh salmon. It is also apparent that the lower the price, the more people will buy.

Reports suggest there is a lot of small salmon around (three to four kilos) which is keeping prices flat. Lice and infectious salmon anaemia problems have not helped either.

The jury is still out on which way prices will go. With Christmas approaching and the extra demand it brings, the market is likely to move up.

But some analysts have suggested future prices will remain on the low side, forecasting lower average prices in 2025.

Salmon industry watchers look set to be in for an interesting time in the months ahead.

Frozen salmon exports have also perked up. Last week they totalled 647 tonnes against 591 tonnes the previous week. The average price fell by just over NOK 4 per kilo to NOK 74.99 per kilo (£5.36).