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In recent years there has been increased interest in the transaction forms in salmon markets, given that contracts have become more common, vertical mergers create firms that cover several levels in the supply chain, and futures markets have developed as a price risk tool. These are strong indications that salmon supply chains are developing in the same direction as supply chains for more processed food products. In this article we investigate to what extent this development has influenced the price transmission process for two product forms: a relatively unprocessed one (fresh fillets) and a more processed one (smoked salmon). Results indicate that the supply chain for fresh fillets can still be characterized by a high degree of price transmission. On the contrary, the hypothesis of full price transmission for smoked salmon is rejected.
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