Increased supply slows down the salmon price

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Pending buyers send down the spot price.

“Some fish have been traded. It’s hard to find the right level. Nevertheless, we are talking about a sharp fall,” an exporter says to SalmonBusiness. Our industrial sources outline the following farmgate prices (in Norway) for farmed salmon to be delivered next week. 

“It will be around 50 kroner (EUR 5.2) for 3-5 kilos: 49-53 kroner (EUR 5.1 – EUR 5.6) depending on the size,” he adds.

Lots of fish
“Price pressure downwards. I see 52 kroner (EUR 5.5) for 3-4 and 53-54 kroner (EUR 5.6-EUR 5.7) for 4-5,”  says a salmon processor buyer.

Facts

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

“There has been a too much fish this week. The latest trucks have gone to a lower level than this,” he adds.

“It has not settled yet. We have not traded today, but these are the deals we have been offered.”

The outlook for price reductions from last Friday is unambiguous.

Seasonal decline
“Now we’re going down. Between four and five kroner. Currently, at least,” a trader says. “50 kroner (EUR 5.2) plus / minus, at 3-4. I want to say 50 (EUR 5.2), 51 (EUR 5.4) and 53 kroner (EUR 5.6) for 3-6 kilos.

His view is shared by one of his competitors.

“It’s the prices I’ve gone out with myself. I’ve heard lower too,” he says. “Last year at this time, the price was 4-5 kroner lower. We are at that time now with low prices.”