The price of salmon will raise to 15 percent next week. Moreover, from week 41 to week 45 that same price in the Norwegian market has been 23 percent higher than last year. According to experts and analysts, for November and December, in line with the Christmas campaign, the market outlook for salmon will be strong.
"Christmas shopping is getting closer, prices start to rise again, at the moment to above NOK 70 per kilo," Finn-Arne Egeness, Chief Analyst of Seafood at Nordea Bank Abp, told WeAreAquaculture.
"Prices have increased although harvest quantities are up 4 percent in the same period. Higher prices on higher volume show increasing demand for salmon, compared to the same period last year. Some of the price increase may be explained by inflation and higher food prices in general," Egeness added.
In addition, the Chief Analyst expects that the demand during Christmas will increase as restaurants and hotels are in a better position than last year. "Likely, the market both for fresh and smoked salmon is usually strong as we get closer to Christmas."
Finally, he advised about the consequences the Norwegian government's proposal on a resource tax will have next time: "Due to uncertainty around the calculation of the tax, the fixed contract market in Norway is dead. This might affect the demand in the European retail market going forward, as fixed prices have been a success factor for salmon in European retail."
The salmon prices for the next week follow:
On the other hand, a spokesperson for Salmon Scotland said: "Despite well-publicized tight supply, higher input costs throughout the supply chain coupled with record inflation rates and increased demand in the run-up to the important Christmas period, prices for Scottish salmon are lower than they were earlier in the year."
"Scottish salmon remains an affordable, healthy and nutritious meal that people should be looking for in the supermarket and in restaurants," he concluded.