It also seems to be about the only popular protein food which is now cheaper than it was around a year ago.

The Glitnir report says its research shows that salmon prices are down by an average of 6.7 per cent this year. The average price last week, according to the latest figures, was 26.8 Norwegian kronas per kilogramme compared with 28.8 kronas at the beginning of the year. However, forecasts from other sources are suggesting that prices could start to move up again as demand increases.

The Icelandic bank says the general downward trend will be welcomed by major seafood producers in Europe and the UK, especially firms like Alfesca, owners of Farne Salmon and Trout in Scotland, who are one of the biggest sellers of salmon products.

But it was not good news for Norwegian salmon farmers who a few days ago reported an increase in salmon export volumes but a decline in income.

A Glitnir seafood analyst added: "Salmon prices have remained relatively stable this year to date. Price stability is important for both producers and buyers. The development of salmon prices is somewhat different from the development in other commodity markets, most of which are currently marked by soaring prices and wide fluctuations."

Meanwhile, things are looking up in another area of specialist seafood. After several poor years the prawn (shrimp) stock off Iceland's north west coast is showing signs of improvement. According to the local media, one vessel returned with a full load of 75 tonnes of exceptionally high quality shrimp from one of Iceland's most important areas for this fishery.

But there are reports coming from the Greenland Coast which suggest that unusual ice floes could soon start interfering with prawn fishing. A number of buyers on the Humber have been purchasing supplies now in anticipation of a price rise of up to 20 per cent later this summer.

www.fishupdate.com is published by Special Publications. Special Publications also publish FISHupdate magazine, Fish Farmer, the Fish Industry Yearbook, the Scottish Seafood Processors Federation Diary, the Fish Farmer Handbook and a range of wallplanners.

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