Christmas rush ushers in sharp rise in the price of salmon

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With only one and a half month left for Christmas, the processing companies are increasing their purchases.

“It must be six to seven kroner up,” says a sales manager at a fish farming company to SalmonBusiness.

“I don’t really have a good explanation for why it is rising so much. Last week there was complete drought in the US market, and the volume from Norway doubled from 300 to 600 tonnes. In addition, there is probably some psychology.”

Facts

Every Friday after lunch, SalmonBusiness report spot prices for salmon. These are fish to be delivered the following week. We contact several links in the value chain, including farmers, exporters and importers, and always have at least five independent sources, although not all sources are necessarily displayed in print. We vary the sources we use and do not use the same sources each time.

No doubt
“But first and foremost, I did not understand the price drop last week. There are many reasons, but even with a day off in Europe and strong the euro exchange rate, it was incredibly difficult to understand.”

“So we’re you’re back to a normal level, I guess.”

There is no doubt that prices are rising sharply.

“Yes, there is no discussion about that,” says a buyer.

“But there will be more fish next week. Chile is coming back. They have been closed for three weeks. I hope the price holds, but it’s uncertain,” he adds.

Full speed
“That being said, Chile is back too full volume. And there will be quite a few thousand tonnes in the market,” says one exporter.

“It’s running at full speed,” says a processing buyer.

SalmonBusiness’ six industry sources outline the following farmgate prices for salmon to be delivered to the market over the next week:

  • 2-3 kg NOK 44-45 (€4.4-4.5)
  • 3-4 kg NOK 50-54 (€5.0-5.4)
  • 4-5 kg NOK ​​52-55 (€5.2-5.5)
  • 5-6 kg NOK 56-59 (€5.6-5.9)
  • 6+ kg NOK 58-65 (€5.8-6.5)