Salmon prices shoot past NOK 100 per kilo

Fresh salmon prices in Norway soared to well over NOK 100 a kilo, a figure not seen since May last year. According to Statistics Norway, which monitors trends on a regular basis, they rose by more than 10.6% or NOK 9.92 to NOK 103.22 a kilo (£8.30) during week seven. It is the steepest percentage increase for some time and its scale has surprised even some salmon company chiefs. Seasonal weather factors could partly be behind the sharp movement. Severe storms have affected the country in recent days, disrupting transport and fish farming activity in a number of areas. This has led to a shortage of fish, forcing up prices, but even so a figure of over NOK 100 a kilo is highly unusual for this time of year. Guessing price trends can be a risky business, but with better weather due to return, they may settle back next week. Industry analysts say the general trend is up, partly because of a lower biomass. So far demand does not seem to have been affected of what are high prices for this time of year. Exports appear to be holding up reasonably well although there was a small (2.7%) dip last week with the total standing at 14,851 tonnes against 15,269 tonnes in week six. Frozen salmon prices dropped down last week from NOK 97.25 to NOK 89.70 a kilo, although exports totals rose by around 115 tonnes to 415 tonnes. Fish sold under contract are also included in the Statistics Norway weekly figures.