Price drop in ‘quiet market’

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Approaching the lowest levels of the year.

A northern Norwegian fish farmer describes the salmon market after lunch on Friday as “very quiet”.

Facts

Every Friday after lunch, SalmonBusiness reports spot prices for salmon - 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.

“We’ve only sold 4-5 kg and 5-6 kg now at NOK 66-67 (EUR 6.7-6.8). We haven’t sold 3-4 kg, but hear NOK 63-64 (EUR 6.4-6.5),” he says to SalmonBusiness.

More to come
“There isn’t that much movement, but a fall of two or three kroner. When Monday comes, it will probably go down even further. 4-5 kg goes for NOK 68-69 (EUR 6.8-6.9), and then there is probably a krone or two down on 3-4 kg,” an exporter says.

“And then it is the case that the bigger the fish, the better the price. But there are not many weeks until more of the big fish arrive,” he says, before adding: “But it is early in the day. We haven’t done anything yet.”

All sources SalmonBusiness has spoken to confirm falling prices for the coming week.

“You can safely say that,” says a trader, and points to the following prices:

  • 3-4 kg NOK 60-62 (EUR 6.0-6.2)
  • 4-5 kg ​​NOK 62-64 (EUR 6.2-6.4)
  • 5-6 kg NOK 64-65 (EUR 6.4-6.5)

Waiting game
“It is simply quiet. Hard to sell. The customers see the same as us. They have been waiting for this for a long time. It should not come as a bomb for anyone,” he believes.

“There are not that many customers who confirm [transactions]. There will be more fish. They have been waiting for it for a long time. Even at these prices, people are waiting. It is holiday time in Europe, and it [the price] should probably be lower than this,” he says, adding that there is good feeding and growth conditions in the sea cages.