Salmon prices fall to new record low

Prices for Norwegian salmon have never been so low. Exports of fresh salmon are now going for less than NOK 20 (USD 3) per kilo, while losses mount for producers and their creditors.

Prices for Norwegian salmon have never been so low. Exports of fresh salmon are now going for less than NOK 20 (USD 3) per kilo, while losses mount for producers and their creditors.

Prices were registered as low as NOK 17.67 per kilo last week, the lowest level since 1995. That's roughly equivalent to USD 1.17 a pound.

The state Central Bureau of Statistics reports that export prices have fallen under NOK 20 on and off for the past five weeks.

Norwegian salmon has been one of the country's most important export products since fish farming became widespread in the 1980s. Total export value amounted to NOK 9.5 billion last year.

Producers have been suffering heavy losses since the price slide began and many seafood companies have filed for bankruptcy in recent months.