Salmon prices climb as market tightens

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The upswing that started last week continues.

Pre-Christmas shopping is in full swing. Prices are rising at high harvest volumes. With just over a month left until Christmas Eve, a lot of fish have to go out.

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.

“We now pay 59 kroner (EUR 5.9) for 3-4 kg and 60 kroner (EUR 6) for 4+,“ said an exporter to SalmonBusiness.

Currency effect
“It’s up quite a bit. There is a slight shortage of fish early in the week, but we are unsure of the end of the week. We fear shutdowns,“ he said and pointed out that it has happened in Austria and parts of Germany.

“A krone comes from the currency, which has strengthened,“ he added.

That means a price jump for the salmon, which was sold in the around EUR 5.4/kg last Friday.

“The last time I talked to someone it was 58, 59 and 60 kroner (EUR 5.8, 5.9 and 6.0) – in the north [of Norway],“ said another exporter.

Season
This is identical to what a third exporter mentioned in terms of prices for the most traded weight classes. However, he saw a somewhat lower price, 58 kroner (EUR 5.8), for the big fish.

A fish farmer in Northern Norway saw even higher prices than this.

“ Maybe a krone up,“ he said.

Rising spot prices in November are almost a tradition. A price level around EUR 6 is a tangent of the same week in 2019 and as much as EUR 1.6 higher than in 2020.