Salmon prices rise again at last

Just two weeks ago they dropped to below NOK 70 a kilo (£4.92), a figure last seen two years ago.

But last week (week 41) the slump came to a halt and the price jumped up by NOK 3.06 per kilo to NOK 72.76 per kilo (£5.12), according to Statistics Norway which monitors trends on a weekly basis. This move represents an increase of 4.4%.

Reports also suggest there is now less small fish on the market which is why prices are beginning to move up.

Demand remains strong, partly due to the lower prices but also because the main salmon buying season is now just 10 weeks away. Buyers are snapping up supplies and freezing it in readiness for the Christmas and New Year rush.

Norway’s fish farmers sold 25,180 tonnes of fresh salmon last week, slightly down on the previous seven days, but more than during the same week a year ago.

Frozen salmon prices dropped sharply last week and so too did export sales. The sales figure fell by just over 200 tonnes to 780 tonnes while the prices dropped by almost NOK 5 per kilo to NOK 73.69 (£5.18) per kilo .

It should be noted that the Statistics Norway figures represent an average and include all weight classes and quality categories. They also include fish sold under contract, so the figure for larger and superior quality fish will almost certainly be higher than NOK 72.76 per kilo.