Salmon prices increase after three weeks of falling

News
1305

Reduced harvesting volumes are supporting rising spot prices.

“It’s a good price increase. We are talking about NOK 3-4 – at least,” an industrial buyer told Salmon Business.

“There will be a lower volume next week it seems, and the trucks were soon sold out this week here”.

Facts

Salmon Business collects spot prices for salmon every Friday after lunch. These are fish to be delivered the following week. Here we contact several members of the value chain, including farmers, exporters and importers. We always have at least five independent sources, although not all sources are necessarily displayed on print. We vary which sources we use, and do not use the same sources each time.

His view is supported by a Norwegian exporter.

“NOK 2-4 kroner up I would say. The large-scale salmon farmers have cut back a little. The fish are growing, so there are more bigger fish around.”

“But if you go NOK 2-3 up, I think the market is fine. If we go above that, the fillet and freezing [market] seizes up completely.”

Market sources Salmon Business talked to after lunch Friday outlined the following purchase prices (to farmers) now:

  • 3-4 kilos NOK 49-51
  • 4-5 kilos NOK 51-54
  • 5-6 kilos NOK 52-55
  • 6+ kilos NOK 56-65

“It’s a good upswing. There is probably too little fish. Three NOKs I will say,” said an Eastern European trader.

“A couple of NOKs up, I think,” said an exporter. “We have not been buying, but it looks like this now. It’s over NOK 50 in average”.

“Towards the end of the week, all big salmon sales stop for the (National Day) Golden Week in China, Hong Kong, Vietnam and South Korea. Obviously, there is a lot of air-freighted fish that goes in that direction.”