The price of fresh Norwegian salmon has seen a significant drop due to an oversupply and strong resistance from European buyers to high prices.
Several exporters reported that the spot price for delivery next week has decreased by about 5 to 8 Norwegian kroner per kilogram (approximately 0.43–0.68 euros or 0.50–0.79 US dollars), especially for large-sized fish intended for air transport, as the market is nearing saturation.
According to statistics from the Norwegian Seafood Export Council, the average price for all sizes last week was 76.62 Norwegian kroner per kilogram (approximately 6.55 euros/7.59 US dollars), but this week's prices have clearly retreated.
One exporter said, "This is the worst week in recent weeks, with significant losses starting from Monday, mainly due to too much fish and prices rising too quickly." Another exporter noted, "When the price exceeds 7 euros, buyers' interest quickly disappears."
Limited air transport capacity has led to a large influx of large-sized salmon into the European market, further depressing prices. A second exporter stated that overall prices this week have fallen by about 5 Norwegian kroner per kilogram;
Farmers reported that the largest drop in price was for large-sized fish, about 6 Norwegian kroner per kilogram. Some exporters have even suspended purchasing due to expectations of further price declines and lack of pre-holiday demand.
The latest market prices show:
2–3 kg size at 65–68 Norwegian kroner per kilogram (5.56–5.81 euros);
3–4 kg at 74 Norwegian kroner per kilogram (6.32 euros);
4–6 kg at 75 Norwegian kroner per kilogram (6.41 euros);
Over 6 kg at 74–77 Norwegian kroner per kilogram (6.32–6.58 euros).