Prices for Norway’s farmed Atlantic salmon have been steadily sliding since the turn of the year – from an average of NOK 72.42 (USD 8.42, EUR 7.89) per kg of fresh fish in the second week of January to NOK 61.98 (USD 7.20, EUR 6.76) per kg in the second week of March. Despite the decline, this latest price was 7 percent higher than in corresponding week of last year and 46 percent more than in 2015.
With supplies staying tight, future prices of 3 to 6 kg fish will continue to be high over the coming months, with analysts expecting them to be at levels of around NOK 63 (USD 7.32, EUR 6.87) per kg in April, NOK 62.80 (USD 7.30, EUR 6.85) in May and NOK 62.30 (USD 7.24, EUR 6.79) in June.
The average FOB price at Norwegian Customs for fresh salmon so far this year is NOK 66.24 (USD 6.70, EUR 7.22) per kg, up 18 percent year-on-year, and 54 percent more than at the same stage of 2015.
The average price of frozen salmon exports, meanwhile, was NOK 69.53 (USD 8.08, EUR 7.58) per kg, up 41 percent compared with the same period of last year and 49 percent more than in 2015.
According to Norwegian Statistics, the country had exported 159,610 metric tons (MT) of fresh salmon – down 4 percent year-on-year, and 4,743 MT of frozen salmon (down 16 percent) by the third week of March.
Despite an anticipated increase in supply, buyers should expect prices to rise in next few weeks – as Easter approaches – due to the historical increase in demand for salmon during this high consumption period.
