Salmon prices are weakening ahead of Chinese New Year celebrations

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But remains at a historically high level.

“Just under 70 kroner (EUR 7.0). It costs less than 70 kroner, but not so much. 68-69 kroner (EUR 6.8-6.99),“ said a buyer to SalmonBusiness about next week’s salmon prices.

“It is always a quiet week at the end of January. It is only natural that it falls back. Prices will remain good throughout the winter. The fish farmers do not suffer from 65 to 70 kroner (EUR 6.5-7.0),“ he believed.

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.

“They [prices] have dropped five kroner (EUR 0.5) on average. Its natural. It became too expensive for the customers. We managed to sell some, but do not have enough customers at seven euros plus in the market. We know that when it passes seven euros, the door becomes narrower,“ said an exporter.

Chinese New Year
He refers to prices of NOK 64, 65 and 66-67 (EUR 6.4-6.7) for fish between three and six kg. For big salmon, 6+ kg, he sees NOK 70 (EUR 7.0).

“We have paid 70 kroner for the big salmon, but we think it can be too expensive. Because Chinese New Year begins next weekend. So you can pack at the beginning of the week and it must leave Norway no later than Thursday. So then the Asian volumes calm down sharply. And there are a lot of big fish in the market. 6+ will fall throughout the week, we are pretty sure of that,“ he continued.

He pointed out that this is an seasonal trend.

“If you read the calendar, and week four, this happens very, very often,“ he said before adding: “But the prices are fantastic.“

His opinion is shared by a Danish buyer, who largely confirms this price level.

“We can buy fish cheaper today (than last Friday),“ he said.

Hallelujah mood
However, there are others who see higher salmon prices.

“We offer at 69, 71 and 74 kroner, for three to six kilos, and then there are some counter-offers here at 67, 69 and 71 kroner. I guess we agree on 68, 70 and 72 kroner or something like that. That is the market price right now,“ said a farmer.

“There is a real hallelujah atmosphere in Canada and Chile – it is the best start of the year ever,“ he remarked.

“I do not think it moves so much. Some challenges in China, important week leading up to Chinese New Year, with covid restrictions at the airport both in Shanghai and elsewhere. The fish will be inspected and it will stay there for a few days. That kind of nervousness.“