Salmon prices drop back to pre-Christmas level

Less than three weeks ago it hit a record price of NOK 125 per kilo, but the figure has now dropped down to NOK 98.43 per kilo. The last time it was around that figure was in the week leading up to Christmas.

The fall corresponds to a decrease of 6.3% on the previous week, said Statistics Norway.

The export volume in week four was 15,564 tonnes , a decline of almost 1,800 tonnes which represents a decline of 10% on week three.

One reason is thought to be a fall in demand from the Far East which had already bought in for the Lunar New Year celebrations. 

It may also, however, be down to interruptions to supply caused by bad weather. The snow in Norway has been very heavy, particularly in the north of the country since Christmas leading to transport problems.

During week four 738 tons of frozen salmon was exported, with the price up by almost NOK 4 to NOK 88.27 per kilo.

Salmon prices have been moving sharply up and down since Christmas and reports suggest that they may start climbing again over the next few weeks.

Industry analysts are predicting that prices will harden in 2025 once trading returns to a normal pattern.

The prices quoted by Statistics Norway include all weight classes and qualities with and without heads and fish sold on contract.