Norway sees salmon prices up again, but relief may be short lived

Salmon reached NOK 84.54 per kilo (£6.28), a rise of 5.5% in the period between 10-16 November.

The last time the price was that high was towards the end of April, just before the long downward trend got underway.

Export volumes were also rising, by 550 metric tons to 24,038 tons, probably reflecting rising pre-Christmas demand.

But this week’s price rise may be short lived. Reports from Norway suggest prices have slumped in the past couple of days due to unusually high supplies hitting the global market.

Large volumes are coming out from Chile and this is reported to be dampening the market.

There are also reports of a considerable amounts of unsold fish, leading to four to six kilo salmon going back down to around NOK 75 per kilo (£5.57). Demand from Europe has also taken a dive.

The price slump is likely to be short lived with Christmas now just a month away, but predictions that prices will harden as the market enters 2026 should be treated with caution. The salmon market has been all over the place this autumn for all sorts of reasons.

Frozen salmon prices were also up in week 47, rising by NOK 4 to NOK 76.4 per kilo (£5.67). Volume for this sector was down by almost 300 tons to 454 tons.

The Statistics Norway figures include all weight classes and fish sold on contract.