According to the latest information the wholesale price for Norwegian salmon surges by 20.6 percent since December. The Statistics Norway organisation which monitors such movements revealed the prices saying that salmon would son become the precious fish in the market after tuna.
It is informed that the shares of the Norwegian Leroy Seafood group were upgraded by the company’s brokers on the back of rising salmon prices. Then Marine Harvest reported an increase in earnings for the year. It is true that the global demand for the fish is growing but the main reason for the steep climb is the collapse of the Chilean salmon industry following an outbreak of the fish disease ISA.
Chile is the second largest producer of salmon, after Norway and a major supplier to the lucrative United States market, but production this year is likely to be less than a quarter of previous supplies. All eyes are on Norway as it exports salmon at an unprecedented level. It is also good news for Scottish salmon producers who are also receiving the benefit of the price rises and export demands.
Norway’s salmon industry is accounted half of the global volume – 1.5m tonnes – of Atlantic salmon. This is expected to rise by close to 70 per cent in 2010. Canada and Britain (mainly Scotland) which collectively account for about 20 percent of the market, are also expected to see their share of the market expand.
