A decent sized salmon now costs more than a barrel of crude – and it’s fantastic news for Norway’s fish industry

Record-priced salmon has helped Norway counter plummeting incomes from oil. During 2016, the average price of wild salmon jumped 40 percent compared to the year before, writes Dagens Industri.
The price of a 4,5 kilo salmon has now surpassed the price of a barrel of Brent crude.
Norway is by far the world’s largest producer of salmon, with some 50 percent of the market. Last year, it exported almost a million tons of the fish that makes up sushi dinners all over the world, which amounted to a value of 61,4 billion NOK (US$7,5 billion).
In spite of fantastic demand, Norway’s fish producers may have a tough time to increase their supply, which may cause further price increases.
‘The thing with salmon is that it takes about three years from when you decide to increase production until the fish reaches the market. So there are relatively long lead times,’ Kolbjrn Giskedegaard, fish analyst at p Nordea, told Dagens Industri

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