Salmon prices leap 30% ahead of holiday season

Norwegian salmon prices dipped last week after increasing sharply in the past month — they are still up 30 per cent since September — despite Russia’s retaliation against EU and US sanctions and helped by soaring seasonal demand for the Christmas and new year holidays.

Prices have been falling as warm seas, which increase fish growth rates, led to larger quantities coming on to the market earlier in the year than expected, according to Mintec, the commodities data analysts, but fewer fish are currently being kept on farms.

In May the volume on farms was up 10 per cent year-on-year but the stocks fell, however, to only 1 per cent ahead in October and are expected to have fallen even further in November, the analysts said.