Salmon prices in late festive surge

Prices had been hovering around the NOK 80 mark (£5.59) in the three to four weeks prior to the festive season, with trade reported to be sluggish. Certainly, there seems to be none of the salmon buying fever which has been a feature of previous festive holidays – until the last few days.

The feeling is that shoppers are being more cautious this year in the wake of higher inflation all round.

According to Statistics Norway which monitors the market on a weekly basis, salmon prices rose by 3.8% or by NOK 3.28 per kilo to NOK 90.74 per kilo (£6.34) in week 50. This was the first time average prices had topped NOK 90 per kilo since early June when the summer slump set in.

Prior to that prices were decidedly buoyant averaging well over NOK 120 per kilo (£8.39) and showing no sign of the flat period that was to come.

It was a situation which lasted far longer than expected with the market periodically interrupted by summer storms and road and rail accidents which affected shipments out of northern Norway in particular. Much of the salmon harvested in the north is initially shipped overland before being flown out of the country.

Apart from the short pre-Christmas surge, demand for salmon continues to remain sluggish and unpredictable despite a weakened kroner.

No-one yet knows for sure what President Donald Trump plans over tariffs on salmon shipments to the US, but whatever he does could play havoc with both demand and prices.