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Norwegian salmon prices are back at rock bottom

Fresh salmon prices in Norway fell further last week, reaching their lowest point in more than a year.

According to the Norwegian Bureau of Statistics, which regularly monitors prices, they fell to 84.87 per kilo in week 24.

The previous low was week 22 when they were on the ground at NOK 92.20 per kilo.

It was then predicted that they still had further to go, but forward reports indicate that they have now reached the bottom and should start climbing again by the end of June.

So far, price developments have been largely unpredictable and often contradictory, but Norwegian industry will not be happy about this as it continues to face steadily rising costs and new tax requirements.

Last week’s figure represents an 8% decline from week 23, the Norwegian Bureau of Statistics said. The better news is that there is no drop in demand.

Earlier this month, Seafood Norway reported strong sales to countries such as the Netherlands, Spain and Portugal. Export volumes are generally holding up well and if retail prices fall in line with export prices, demand should remain strong.

Fresh salmon export volume amounted to 16,797 tonnes, up from 16,605 tonnes the previous week. This means an increase of 1.2%.

In contrast, frozen salmon prices rose by just over NOK 6 to NOK 85.45 per kilo, on a lower volume of 281 tonnes.

Statistics Norway’s figures include all weight and quality classes.

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