Continuing strong prices for Norwegian salmon and trout in August 2016

SalmonSalmon bites.Photo Norway Today Media

The price of Norwegian salmon remains high. With an average price of NOK 58 per kg, export values in August were 42 per cent higher than the same month in 2015. Norwegian trout prices have doubled.

”In August, export prices fell by around NOK 8. Demand for Norwegian salmon is still high and export volumes have increased. We also see that the trout is strengthening its position in several markets”, says communications director Geir Håvard Hanssen with the Norwegian Seafood Council.

According to analyst Paul Aandahl with the Norwegian Seafood Council the inflation in salmon prices has not yet fully impacted consumers.

”Despite the high export price, consumers in Europe are continuing to buy Norwegian salmon. However, we are seeing a change in the consumption pattern of consumers, who are now buying salmon more often, but in smaller quantities” says Aandahl.

The fastest price rises are for fresh ”low process” premium salmon products. Whilst the wholesale market is experiencing inflation, consumer prices are only rising slowly. This is mainly due to the widespread use of forward contracts, especially in processed products. Over the longer term these wholesale price increases will start to be transferred to consumers. Then the market will show how far consumers are willing to stretch, to keep  salmon on their dinner plates, says Aandahl.


Source: Norway Today

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