Heavy price drop – third week in a row

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Reduced buyer side and more fish lowers salmon prices.

“52-53 kroner (EUR 5.2-5.3), it is very confusing,” said a buyer about next week’s salmon price.

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. We vary the sources we use and do not use the same sources each time.

“Now it has turned upside down – the holidays are not in Norway, they are on the continent. There is not anything available over 55 kroner (EUR 5.5), maybe only some air borne fish”, he added.

“It’s suddenly completely dead. After a euphoria with 70 kroner (EUR 7.0), there is little buying interest. When the big three in Poland do not buy anything – then there is downward pressure.”

Pressure
“It has been a dip this week. Now we trade in the early 50s, some volume has passed. There will be a downward pressure on prices next week as well,” said a trader.

“We have sold two trucks of 3-4 kg at EUR 5.90 delivered to Europe. Calculated back to us it is approximately 56.50 kroner. We know this is high,” said a fish farmer. “I bet 55, 57 and 59 kroner (EUR 5.5, 5.7 and 5.9) for 3-6 kg. Then we know there is a lot of leftover fish this week. I fear 53, 55 and 58 kroner (EUR 5.3, 5.5 and 5.8).”

“Of course there have been a lot of fish. But now we are starting to reach a level where the demand is coming. I hope we can stabilize it around the mid-50s,” he said.

“No one is interested in yo-yo development. It bounces up and down ten kroner (one Euro). There is too much fluctuation. It would have been good with more even prices. But it will be a couple of weeks with high volume – based on what we see in ourselves,” the farmer said.

More fish
It has been another demanding week for the exporters.

“3-4 goes at 50-53 kroner (EUR 5.0-5.3). There will come more fish. Lots of unsold fish. It has been a difficult week,” said an exporter.

“It is probably this week we have paid the most to export. We have sent a lot of money out of the country. We have paid extremely much to be allowed to sell fish. We have lost up ten kroner (one Euro) a kilo. It has not been so fun.”

He received support for this level from another exporter:

“We land on 3-4 at 50 kroner (EUR 5.0), 4-5 at 52 (EUR 5.2) kroner and 5-6 at 54 kroner (EUR 5.4),” he said.