Oil slump to fuel salmon bonanza

"I dont think the rapid increase in the salmon price would have happened if it wasn't  for the currency depreciation in NOK," Ole Kristian Kjellbakk, from Polar Quality, told NRK.

Historically it is not uncommon that salmon prices soar towards the end of a year, with the approach of Christmas.

"Salmon is a major part of the diet associated with Christmas, but oil prices have declined, making sure we get a giant fluctuation of the currency," Kjellbakk added.

Nordea Markets' seafood analyst Kolbjørn Giskeødegård believes the trend should strengthen the seafood market.

"When the dollar appreciates by ten per cent against the Norwegian krone, it means that Norwegian producers either get ten per cent higher price in the market in local currency, or there are those who import that gets ten per cent cheaper Norwegian fish. That means that it becomes more attractive to buy Norwegian fish, and we get a win-win situation for Norwegian exporters and foreign importers," says Giskeødegård.