Salmon prices on the rise – finally

The long awaited increase in salmon prices appears to be under way at last.

Statistics Norway is reporting a six per cent rise for fresh and chilled salmon last week (Week 46), making up for most the decline earlier this month.

Data from Statistics Norway is normally a week behind actual events but all the signals suggest that the upward trend is continuing with talk of 5-6 kilo fish touching the NOK 60 per kilo mark.

The average export price was NOK 58.13 per kilo against NOK 54.86 seven days earlier. A total of 24,388 tonnes of fresh and chilled were exported during Week 46, marginally down on the previous week.

This suggests the usually hectic pre-Christmas buying season is building up fast and harvest volumes are rising to meet that demand.

But will it last? Events in some European countries could change matters.

Austria, Germany and the Netherlands are totally or partially shutting down in the wake of rising Covid cases and that may lead to a drop in demand. Exporters to those countries are feeling a little nervous.

Meanwhile, the export price of frozen salmon totalled 793 tonnes, up by 114 tonnes on the previous week while prices recorded a small dip at NOK 57.37 a kilo

Prices quoted include all weight classes, qualities and all fish sold, including those sold on contract. The reported price is the price at the border, and includes, among other things, shipping and terminal costs.

The price that producers receive is usually around 1.5 kroner lower than the official price, according to Mowi’s “Salmon Farming Industry Handbook 2021”.