Prices dropping for Norwegian farmed salmon

The price of salmon farmed in Norway is expected to drop next week to between NOK 55 and 56 (USD 2.48 to USD 2.53, EUR 2.11 to EUR 2.15) per kilo for deliveries as production increases, according to Reuters.

Rising production is pushing prices down from a high of NOK 80 (USD 10.07, EUR 8.58) per kilo in January 2017. Prices reached a low of NOK 50 (USD 6.29, EUR 5.36) per kilo in March before rising again later in the spring.

"We are at around NOK 55 to 56 per kilo," a salmon producer told Reuters. "Production conditions are good and it's quiet in Southern Europe due to holidays.”

Production prices are hovering around NOK 33 (USD 4.15, EUR 3.54), Reuters reported.

Reuters also reported that Norway’s farmed salmon biomass jumped seven percent year-on-year in June.

Seafood Norway, which represents around 500 Norwegian seafood companies, expects production to increase two percent in 2017, compared to a five percent drop in 2016. 

The current amount of salmon being farmed in Norway is estimated at 605,000 metric tons, Seafood Norway said.