With a total biomass of 739,000 metric tons (MT), there was 7 percent more Norwegian farmed salmon in the water at the end of 2017 than 12 months earlier, according to new figures released by Sjomat Norway (Seafood Norway).
Norway's salmon farming sector entered November 2017 with its largest-ever biomass of 755,000 MT, which was reduced by the Christmas holiday trade, with December’s exports up 13 percent year-on-year.
Sjomat Norway said the high biomass was not a cause for concern as January had seen a sharp increase in exports and that by week 3, Norwegian exporters had sold 16.8 percent more fish than at the same stage of last year.
During week 2, the average price of fresh salmon was NOK 57.28 (USD 7.45, EUR 5.98) per kg, which was 2 percent less than the first week of the New Year and 21 percent below the average price paid in the same week of 2017.
Analysts believe prices will continue to fall to a level of NOK 54.30 (USD 7.06, EUR 5.67) per kg in February and stay at similar levels in March and April.
Norway is forecast to harvest 1.3 million MT of salmon this year, an increase of 100,000 MT compared with 2017.
