Salmon prices dip as normal trading returns

Statistics Norway says the export price dropped from NOK 125.36 (£9.04) per kilo to NOK 117.77 (£8.49) in week two, which represents a decrease of 6.1%.

Volume sales also started returning to normal levels after the festive holiday, totalling 15,939 tonnes, up from 11,364 tonnes a week earlier when transport was partly shut down by poor weather and holiday closures.

Frozen salmon sales are also getting back to normal, totalling 393 tonnes and selling at NOK 90.27 per kilo (£6.51).

The Norwegian salmon industry is reported to be in a more positive mood after the various lice, jellyfish and other issues of last year, which seriously affected output and profits.

Prices were also erratic in 2024, climbing to exceptionally high levels up to Easter, before dropping down to a prolonged slump which only really ended a few weeks before Christmas.

Kontali says the industry is showing signs of cautious optimism with production likely to grow by around 3%.

The kroner also fell back last year falling to NOK 14 per £1 sterling and NOK 12 per euro. If that situation continues, it will help exports.

The main uncertainty this year is US President-elect Donald Trump’s threat to impose tariffs on imports into the US, although many pundits say he is likely to be very selective and will not include food.

The Statistics Norway figures include all weight classes and fish sold on contract.