Prices for Norwegian salmon hiked 34 percent to NOK 33.35 (€4.50/$6) in the second week of January, compared to NOK 24.92 (€3.30/$4.50) in the same period last year, according to Nordea's weekly salmon update, indicating a "very strong underlying market."
Like-for-like export value rose 65 percent to NOK 713,690 (€95,924/$128,046) compared to NOK 433,608 (€58,280/$77,795) in the second week of 2012.
Prices are expected to increase further next week and could climb up to NOK 36 (€4.8/$6.5), Kolbjorn Giskeodegard, senior analyst seafood at Nordea, wrote in his weekly update.
"As salmon prices seem to have established in the mid 30s (for now at least), there have been speculations that this might be a result of farmers holding back volumes to boost prices," he said.
US price increase
Also in the United States, which previously reported lower market prices, a "firm price increase" was noted this week.
Prices for medium-sized Canadian and European salmon reached NOK 30 (€4/$5.4) per kilogram, while large-sized fish are selling at NOK 33 (€4.40/$5.90).
"Even prices for Chilean fresh fillets are moving upwards, still loss making, but narrowing the gap week by week now," said Giskeodegard.