Salmon prices up again after Easter dip

Fresh salmon prices have climbed back up after sagging over Easter, according to the latest figures from Statistics Norway.

In week 15 it said the export price rose by 3.8% or by NOK 4.18 to NOK 113.39 per kilo (£8.63).

Fresh salmon prices hit a peak of NOK 122.88 a kilo (£9.35) a couple of weeks before the Easter holiday but then surprisingly fell back.

Demand is also on the rise. The export volume increased by just over 30% or 3,543 tonnes to 15,265 tonnes.

The fact that the month of May contains a number of public and religious holidays, particularly in Europe, is thought to be one of the driving forces behind this higher than usual surge in demand.

The export volume for frozen salmon rose by almost 100 tonnes to 394 tonnes while the price was slightly higher at NOK 98.37 per kilo (£7.48).

Industry analysts in Norway say prices dip this week as the trade takes a break and heads to the Seafood Expo Global industry event in Barcelona. Overall it is expected that they should remain reasonably steady until around mid-June when they traditionally fall away as Europe gears up for the summer holiday season.

It is also being reported that the Norwegian biomass increased by around 8,000 tonnes at the end of March which could help to stabilise prices later on.

And it should also be noted from the Grieg 2022 first quarter figures last week that production costs for salmon farmers are continuing to rise sharply – up by more than 40% in the case of its two Norwegian zones.

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