Relief as salmon prices start to climb back

The monitoring organisation Statistics Norway says the figure for week 18 (26 April to 3 May) was NOK 83.51 per kilo (£6.60), an increase of 9.2% on the previous week.

The news will bring some relief to Norway’s salmon farmers, who have watched prices undergo a gradual decline since March.

It is too early to tell, however, whether this is just a blip or the start of a climb back up. The salmon market is in a strange state at the moment. High fuel prices due to conflict and increased export volumes from Chile, the world’s second largest salmon producer, have been having a price cooling effect.

The better news is that China is continuing to show increased demand for salmon. The industry is also hoping for an end to military activity in the Middle East, even if the dispute itself does not end.

Export volumes fell by just over 1,500 tons to 17,714 tons, probably due to the so-called “Barcelona” Seafood Expo Global effect and Middle East war disruption. Volumes are expected to start picking up again during May, although nothing is being taken for granted.

Frozen salmon prices rose by more than NOK 11 last week to NOK 80.78 per kilo, 160 tons down at 324 tons.

It should be noted that the Statistics Norway figures include all weight classes and fish sold on contract.