Norwegian salmon prices hit new record

Fresh salmon prices hit an all time record in Norway last week, although there are signs the surge could be over.

They soared to NOK 123.28 per kilo during week 15, an increase of NOK 3.34 per kilo or 2.2% on the previous week.

The official figures from Statistics Norway are generally an average so some fish could be higher while other smaller salmon may be below that level.

The trend continued upward, but later reports indicate prices are starting to come back down.

Last month the Norwegian Seafood Council reported that the value of salmon exports had fallen for the first time in over two years. With the  price surges of recent weeks this may now turn out to be just a temporary blip.

Export volumes are also on the rise. They totalled 13,015 tonnes in week 15 up from 11,675 tonnes seven days earlier.

Frozen salmon sales, which remains a small part of Norwegian pink fish exports, also climbed last week.

Frozen shipments totalled 617 tonnes last week, a rise of 154 tonnes on week 14. Frozen salmon prices, however, remain fairly stable and were down very slightly at NOK 89.08 per kilo.

Some Norwegian trade news sites are reporting a price drop next week, but even if they do fall back they are likely to remain on the high side.

The same reports suggest that prod or production fish – salmon that has been damaged prior to processing – has also been increasing in price.