Salmon export prices down again

Figures from the national monitoring organisation Statistics Norway for week 45 (3 to 9 November) show the market price of salmon fell back by just over 3% or NOK 2.47 per kilo to NOK 78.08 (£5.89) per kilo.

The export quantity for fresh salmon in week 45 was still 24,111 metric tons, a reduction of 3.1% from the previous week, when the export quantity was 24,875 tons.

The reversal had been expected, however, and should be short lived, but such is the state of the market that making predictions can be a risky game.

Observers say there is far too much large fish (five kilos plus) around at the moment and the market is currently in a sluggish state. 

Low prices have been a central feature in most of the salmon company third quarter reports this month and look like continuing into the final quarter.

The price slump was responsible for lower profits, or, in some cases, sizeable losses, over the three months between July and August.

They had started to pick up slightly from last month and many thought this was the start of a recovery that would take the industry up to and past Christmas.

Frozen salmon prices remained relatively stable last week at NOK 78.16 per kilo (£5.90) although the volume dropped by almost 100 tons to 569 tons.