Norwegian salmon prices rise as Christmas approaches

2022-11-29 12:37

Last week, the price of chilled salmon rose 3.1% to NOK 70.55 per kilogram, according to Statistics Norway, which is expected to grow further as Christmas Day approaches, and the new price breaks through the recent sluggish market for chilled salmon, breaking new highs in recent weeks.

However, the actual price may be 10 kroner higher than the price published by Statistics Norway, especially for large-sized chilled salmon.

The current market movement is similar to the calm period of last summer and early autumn, followed by a sharp rise.

But on the downside, there are initial signs of consumer boycott due to rising retail prices. Statistics show that exports fell by 6% in week 46, from 24,421 tons a week ago to 22,962 tons.

The report shows that some European supermarkets, especially in Germany, are cutting orders as Germany faces a possible recession and the continent's highest energy costs.

The main factor driving up prices at present remains the shortage of supply. According to Norwegian trade media, fewer and fewer fish are being harvested in coastal fisheries, so their prices may continue to rise as the festival approaches.

Unlike the rise in chilled salmon, exports of frozen salmon fell to 553 tonnes last week from 751 tonnes in week 45. Prices also fell, from NOK 84.56 to NOK 79.01 per kg.