Norwegian salmon prices see-saw –

Norwegian salmon prices see-saw Published:  24 May, 2011

THE price of Norwegian salmon has dramatically dropped back after reaching near record levels just over three weeks ago.

Prices for exported fresh Norwegian salmon hit 43.61 kroners (£4.84 sterling) per kilo during the week before Easter, the highest ever, the country’s Export Council for Fish  reported.

But in the last few days it has fallen back by eight kroners to 35 kroners a kilo. The high availability of salmon is thought to be behind the reversal.At the same time the share prices of some Norwegian salmon producers has slumped by up to seven per cent. Overall, the value of exported Norwegian fresh farmed salmon totalled  7.5 billion kroners (around £83-million ) in the first quarter of this year.

The average weekly export of fresh farmed salmon from Norway so far this year has been running at between  10,000 to 12,000 tons. At present, Poland and France are the most important markets, but other countries are catching up.

Overall, the  value of exports of Norwegian seafood in April totalled 4.2 billion  kroners( (£46.6-million or 529.6 million euros). This represents an increase of  587 million kroners or 16.3 per cent compared to April 2010, says the Norwegian Seafood Export Council..

This year to date, the value of exports of Norwegian seafood have totalled  18 billion kroners (over £170-million) an increase of  13.3 per cent compared to the same period last year. This is an export record for the month of April and also for the January-April period.

Egil Ove Sundheim, director of market information with the export council said: “Exports of Norwegian seafood are setting new records because there is a market demand for more Norwegian seafood combined with higher prices. The growth we are seeing in Norwegian seafood exports is attributable primarily to exports of Norwegian salmon, although herring, mackerel and clipfish products are also contributing to increased export levels.”