'Barcelona effect' leads to big slump in salmon prices

The figure for the period between 13-19 April was NOK 77.31 per kilo (£6.15), a level not seen since autumn last year. This represents a drop of NOK 7.86 or 9.2% on the previous week.

Prices often drop back during the big Seafood Expo in Barcelona with many buyers and sellers heading to Spain for the event. Normally, this means that salmon buying tends to dip while the Expo is on.

Nonetheless, there was plenty of trade last week. Sales volumes totalled 20,224 metric tons, up 1,600 tons or 8.7% on the previous week, and one of the highest figures of the year so far. Continued high demand from China and other Far East countries is thought to be a continuing factor.

There is also plenty of salmon swirling around in Norway which is also helping to lower prices. The market is in a fairly confused state at present.

However, the Middle East conflict, which has serious disrupted flight schedules and trade with the Gulf states, will have played a significant part.

Trading should swiftly return to normal is the US and Iran can agree some sort of peace deal, but despite raised hopes earlier this week that still seems to be still some way off.

Frozen salmon prices were also down, falling by almost NOK 4 to NOK 71.61 per kilo (£5.70). Volumes rose by 140 tons to 561 tons.