Norwegian farmed Atlantic salmon (Salmo salar) prices continued to climb coming into April and are expected to stay high throughout the second-quarter of this year as the market comes to terms with the decreased supply.
At the start of April, the average export price for the Scandinavian country’s fresh whole salmon was NOK 59.03 (USD 7.23, EUR 6.38) per kg, which was 40 percent higher than a year.
Analysts forecast the future price of 3 to 6 kg fish to remain at around NOK 59 (USD 7.22, EUR 6.37) per kg in May, before dropping to NOK 55 (USD 6.73, EUR 5.94) in June, in line with increased volumes being available to the market.
The average FOB price for fresh salmon in Q1 was NOK 57.05 (USD 6.99, EUR 6.16) per kg, up 33 percent year-on-year.
The average price of frozen salmon exports at the start of April was NOK 52.48 (USD 6.42, EUR 5.67) per kg, up 33 percent compared with the same stage of 2015. For the year to date, the average price of this product was NOK 49.97 (USD 6.12, EUR 5.40) per kg, up 8 percent year-on-year.
Norway’s salmon production is expected to drop by 100,000 metric tons (MT) this year to 1.1 million MT due to biological challenges, particularly sea lice infestations, in key production regions.
