Highest salmon price since early March

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Volume shortages are tightening the market.

“It’s moving up, yes. How much remains to be seen. Over 60 kroner (EUR 5.4) anyway,” says a buyer about next week’s spot price to SalmonBusiness.

“3-6 kg is 63, 64, 65 kroner (EUR 5.7, 5.8, 5.9). 65-70 kroner (EUR 5.9-6.4) on 6+ kg,” says a trader. “I think you see two more weeks with high prices – and then it goes down the last week of May or the first week of June.”

This means a price increase of around one euro per kilo – in one week.

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.

“It rises pretty much here at home (Norway – ed. note). I would say it will be 60-62 kroner (EUR 5.4-5.6)”, says another trader. “Some talk about 64 kroner (EUR 5.8), but there is not demand for that in the market,” he says, adding that his company has not bought any fish yet.

“There is a lot of production fish (fish with wounds or reduced quality – ed. note). Less superior fish available. It must be processed here at home first, and gives less access to fish that can be exported,” he points out.

“I also think the big ones (major salmon farmers) are lowering their harvesting quantity,” he adds.

“But I think everyone was taken by surprise with this price jump. The price will be high for a few weeks now, I believe.”

However, a buyer at a major European processing company is not concerned about the sharp rise in prices.

“When you’ve got frozen stock for months, you don’t have to buy that much. I have to try promotions in June to get it out.”

“The game is underway,” he says, calling the price jump, at a dollar per kilo, “foolish.”