Salmon price falls back due to increased harvest

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This year’s first full week of harvesting gives us falling salmon prices.

“Yes, two of my suppliers say that the price will fall for Tuesday’s delivery. I await how much,” a Danish importer comments to SalmonBusiness.

“It is difficult to set the price in a week where one knows that the quantity is up. There has been little trading,” says a trader, but is aware that the price will be down.

– Below six euro?

“Yes I believe so. At least on industrial sizes (3-6 kilograms).”

Facts

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

His view is supported by a competitor.

“It’s probably down 4-5 kroner (€0.4 – 0.5) on average. 57-60 kroner (€5.7 – 6.0) for 3-6 (kilograms). The market says it will be down to 55, 57 and 59 kroner (€5.5, 5.7 and 5.9), but we say 57, 59 and 60 kroner (€5.7, 5.9 and 6.0). I think that is more realistic. I do not ignore the fact that they can get it right, but we are unable to buy at those prices today.”

“We believe the prices are going down generally, not just next week. It’s quiet out there. And more fish. We will step back until December and November levels again. And then the prices were around NOK 55 (€5.5) on average. That’s probably where we’re going.”

The correction comes after the spot price went sky high on a few harvesting days in the Christmas period.

“Yes, it is not surprising that this happened,” he says.

“At the moment there are many who have fish that are not sold, and they are also unable to sell it. And that means that the price will be sharply reduced,” says another exporter.

“It’s too high. It must be under 60 kroner (€6.0) at least.”