Market comment predicts continued high prices

Salmon fillets, compared to other cuts, continue to fluctuate in terms of price. Promotional effort is obviously a contributing factor coupled with an exceptionally cold and long winter in France, the fillet being a perfect indoor recipe. Promotional Catalogue prices of €4.50 for whole salmon

and €7.50 for salmon cutlets were published for early March in a Hyper U catalogue, BIM Business Research & Intelligence said in their market comment

Wholesale prices in Rungis increased throughout the month of February with a slight temporary decrease toward the end of the month. This also corresponds to a weakening of the Euro compared to NOK which mechanically raises salmon prices in the Euro zone.

However the tight supply situation is also alarming markets due to the cumulative impact of decreased production in Chile and slow growth in Norway and Europe with exceptionally cold temperatures. High prices are expected to hold for the foreseeable future although they may fluctuate in function of seasonal demand, it said.

The NOK remains strong with a further weakening of the Euro. As business confidence in

Norway is also strong on the back of rising salmon prices, currency exchange is likely to continue maintaining high salmon prices in the Euro zone.