New week of booming salmon prices

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Close to EUR 5/kg for the first time since the beginning of July.

“It is around 50 kroner (EUR 4.7) at 3+ kg,” said an exporter to SalmonBusiness about the price for salmon to be delivered next week.

He pointed to few open processing plants and low supply of fish as the main explanation for the price jump from the levels around EUR 4.2 (paid to fish farmers) last Friday.

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.

Not abnormal
“It’s classic. It is not abnormal what is happening now. It uses to hold in week one as well.”

“We have bought some, but are far from finished,” he added.

Others see even higher prices:

«51/52/53», wrote a trader in a text message to SalmonBusiness.

Brexit
This means that the salmon is traded over NOK 50 (EUR 4.7) for the first time since week 28. The price increase is somewhere between 10 and 20 percent – in one week.

“52-53 kroner (EUR 4.9-5.0) at 3-4 kg, 54 kroner (EUR 5.1) at 4+,” said a fish farmer.

In terms of logistics, it’s quite easy to get the Christmas salmon out to the markets.

“It works smoothly to the UK as well. We stay away from the Euro tunnel. Then comes Brexit on January 1, and then we will see how it goes with the pandemic plus Brexit,” he said.