Prices firm as ISA-related supply surge eases.
Norwegian salmon spot prices moved higher this week as a recent surge in supply linked to infectious salmon anaemia (ISA) outbreaks began to subside.
Industry sources indicated prices for superior 3-6kg salmon were around EUR 6.01/kg, up approximately EUR 0.27-0.36/kg from the previous week.
Norwegian salmon supply reached 30,980 tonnes last week, up 5.2% year-on-year and 11.5% week-on-week, as producers continued harvesting fish earlier than planned at ISA-affected sites. With much of that additional volume now absorbed by the market, prices have started to recover.
The rebound has been supported by resilient demand. Despite the higher volumes and a stronger Norwegian krone against the euro, estimated market demand reached EUR 195 million last week, up 12.5% year-on-year and 2.4% week-on-week. Demand growth for the second quarter to date is running 7.1% ahead of the same period last year.
The strongest buying has come from Europe’s main processing hubs. Over the past eight weeks, imports of whole fresh Norwegian salmon into Denmark and Poland increased by around 17% year-on-year, outpacing Norwegian supply growth of approximately 11% over the same period.
Asian demand has also remained strong. Combined imports into China, Vietnam, Hong Kong and Taiwan rose approximately 26% year-on-year over the past eight weeks.
The combination of easing supply pressure and continued demand growth in Europe and Asia has helped lift prices after several weeks of weakness.
Each week, SalmonBusiness gathers salmon price forecasts from industry analysts for the week ahead. Unless otherwise stated, prices refer to Superior 3–6 kg salmon, per kilo FCA Oslo, converted using the day’s average exchange rate.