Salmon prices up as biomass falls

The tightening market is beginning to put a smile back on the faces of salmon farmers after several months of below profit level prices.

 

According to the monitoring body Statistics Norway, fresh salmon in week 38 was averaging 77.40 per kilo (£5.78), a rise of NOK 2.41 on the previous seven days.

 

Prices have been climbing steadily for the past six to seven  weeks and, with the exceptional hiccup,  most people now expect this trend to continue for the rest of the year and into 2026.

 

With the festive season now just over the horizon, prices are likely to accelerate even faster in the coming weeks.

 

One of the main reasons for the increase is a lower supply of fish and news of reduced salmon biomass in Norway.

 

Figures from the Norwegian Directorate of Fisheries at the end of last month show that the national salmon biomass is now 2.4% lower than a year ago. This negative growth trend is tipped to continue. Some are describing the current picture as a “Goldilocks situation” for farmers.

 

Export volumes were down marginally last week at 24,495 metric tons and are currently 2,000 to 3,000 tons lower on average  than six or seven weeks ago.

 

Frozen salmon prices rose sharply last week from NOK 64.45 to NOK 73.80 per kilo (£5.51), close to the same level as fresh salmon.

 

The Statistics Norway figures are averages and include all classes including fish sold on contract.