Salmon price continues to spiral up in Norway

Fresh salmon prices have hit a new record for the third week in succession, according to Statistics Norway. Just when many people thought they might be due for a downward correction, they shot up by 6.2% to NOK 119.48 a kilo (£9.45) in week 9. Some buyers are describing the current market situation as being “quite crazy”. The industry’s main worry is that the high headline figures will provide more ammunition to those who want to impose higher taxes on the industry. It is often forgotten that production costs, particularly in relation to feed, have also risen sharply and now average more than NOK 50 a kilo (£3.96). The prices being quoted by Statistics Norway is for quality fish of around 5-6kg, but there is also a sub-market of winter wound damaged fish selling for considerably less. The NOK 119.48 figure is 42% higher than the same week a year ago and almost 90% up on week 9 in 2021 when the market was being affected by the Covid pandemic. Demand for salmon continues to strong ...