No salmon price recovery in sight

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Stable or slightly declining salmon prices. This is the message from the market as we enter the second week of November.

“Around 40 kroner (EUR 3.7) on average for 3+ kg. Slightly lower at 6+ kg, 38 kroner (EUR 3.5). There is a lot of available fish – all over the place. We are struggling to place it. Customers are not terribly willing to take on extra fish,” said an exporter to SalmonBusiness.

“But, obviously, no one had expected the shutdowns we have now,” he added.

“The average weight is high. It is mostly 5+ to get hold of. It is growing fast. 50,000 tons of feed a week. 20 percent over last year in recent weeks.”

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.

Struggling
“We are struggling in the market. Everyone wants higher prices. We’re in the same boat. No one is interested in low prices. But there is not much we can do about it in the short term,” he continued.

Any price increase is not to be traced. Not the next week either.

“3-4 is just under 40 kroner (EUR 3.7). 4-5 at 40 kroner. I would say 40 kroner flat on 4+. I do not think there is an expectation that it will go up. But stable is good,” said an exporter.

Recovery?
“It is fairly stable for this week. The big fish are most pressured,” said another.

“Most, as I see it, are under 40 kroner (EUR 3.7). I believe more in 38-39 kroner (EUR 3.5-3.6), but I know it is traded at 40 kroner as well,” said an importer, before he asking rhetorically: “Who is going to buy the fish? Recovery before New Year? Just forget it.”