Hesitant buyers and increased harvest volumes send the salmon price down

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The salmon price is set to fall back next week.

“I’m in the middle of it now. 3-6 kilograms trade at  55, 56 and 58 kroner (€5.7, 5.8 and 6.0),” says a salmon trader to SalmonBusiness.

That means a quite heavy fall from last Friday, when the most traded weight classes were sold at around €6.5/kilogram. 

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.

“It is spreading in all directions. That’s all I want to say,” says a sales manager at a Western Norwegian salmon farmer about the salmon price.

He doesn’t want to say what he expects of next week’s price – whether it’s going up or down.

But all other industry sources agree that the price will go down quite a bit.

“I expect the price to be between NOK 50 and 55 (€5.2-5.7). It does not come down to 50, but does not come above 55 (kroner) either,” says one exporter.

“It’s a little calm now in the summer. Suddenly there was plenty of big fish – that is the one who has kept it [the salmon price] up. It is obviously good access to all sizes in demand. There are some unsold fish today. It’s hard to find the levels to buy at,” he adds.

Exporters are in no hurry to set their purchase prices today.

“Well. Not where we take it yet,” writes one of them in a text message to SalmonBusiness.

“It’s a giantic fall. Yes, there is no more to say about it,” says another. “It is painful when it falls so much.”

“They [farmers] harvest too much fish. It seems that everyone want to harvest before the holiday. The problem is that we can’t sell all of it. One must surely freeze fish,” he predicts.