Fresh salmon prices hit a low for this year – but volume remains high

The export price for fresh Norwegian salmon has fallen to its lowest level so far this year, according to Statistics Norway.

The average price per kilo in week 30 was NOK 86.14 (£6.63), a drop of 7% on the previous week.

There had been predictions that prices were starting to rise again and this may still be the case as the Statistics Norway data usually trails the market situation by a week.

Prices traditionally dip during the peak summer holiday period. The next set of figures should give a clearer picture.

There is certainly no lack of demand for fresh Norwegian salmon despite many people being away on holiday.

Prices may be at a seven month low, but the export total in week 30 was the highest so far this year at 19,604 tonnes, an increase of 9.5% or 1,706 tonnes on the previous week.

Exports volumes have varied widely since the start of the year, ranging from a low of 11,700 tonnes in week 11 to last week’s peak total.

The price paid by some Asian countries, notably China, for Norwegian salmon can be well above the official figure. This is mainly due to high air transport costs and other factors such as an insistence on large salmon.

Frozen salmon exports more than doubled from 125 tonnes in week 29 to 285 tonnes last week. The price, however, dropped from NOK 105.03 (£8.09) to NOK 96 (£7.39) per kilo.

The Statistics Norway price includes all weight classes, qualities and all traded fish, including salmon sold under contract.