Salmon is now being sold at the lowest December price since 2012

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The year’s lowest levels are within reach.

With four weeks to Christmas Eve, there is no prospect of a significant price increase.

“We do not buy so much that we are left with fish. There is a lot going on around the NOK 40 (EUR 3.8) level, some also a little below,” said a trader to SalmonBusiness.

Great sales week
“It is probably a lot unsold (fish) as well. It does not empty itself. It’s not like that this year. Before, people built up stocks before Christmas, but that does not happen this year. They buy in, see how it goes.”

Exports of well over 30,000 tonnes of Norwegian salmon are expected in the coming week.

“Week 49 is traditionally a big sales week before Christmas. That says a lot – what uncertainty is reflected,” said another trader.

“It does not look good. The boring trend continues – it is less than 40 kroner on everything,” said an exporter. “I do not get more than 3.60 euros on 6+. It’s very complicated now. The industry is starting to finish off before Christmas. It scares me. The fresh market is not here. No, I do not like the situation. This is not fun. But we must not forget what situation we are in,” he pointed out.

Annual low
“There is only one way,” said an importer. “It is probably the worst of the year,” he said about the salmon price.

He did not see any immediate price increase.

“It will be weak going forward. There are far too much fish relatively to the market,” he summed up.

“That prices are going below cost now is not surprising. These are tough times for the farmers,” he said, before adding: “But it is a bit of pay back time.”

“Next week is traditionally the big processing week. The volumes that have gone out have been relatively good. The question is whether it goes in consumption or to frozen stock,” said the importer.

SalmonBusiness’ five industrial sources refer to the following farmgate prices for the salmon to be delivered in the first week of December:

  • 3-6 kg NOK 38-40 (EUR 3.6-3.8)
  • 6+ kg NOK 35-40 (EUR 3.3-3.8)