Salmon prices have swung between NOK 19 (€2.35/$3.45) and NOK 44 (€5.46/$7.99) a kilo between 2006 and 2008, according to Norwegian Seafood Federation (FHL) statistics.

At its peak in the summer 2006, single truck consignments were fetching NOK 50 (€6.20/$9.08) per kilo, the highest since 1992.

Last fall prices tumbled below NOK 20 (€2.48/$3.63), despite the wave of consolidation that has swept through the industry the last few years, said First Securities analyst Aslak Berge.

“One of the most popular arguments for consolidation, was the need to stabilize the price picture for salmon.