Salmon prices turn around after a three-week fall

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Currency-driven rally after a tough period.

“There is an upturn, but it is still early. The aviation (overseas) market is incredibly quiet,” said one exporter to SalmonBusiness.

“Up three to four kroner,” another exporter said, referring to farmgate prices at NOK 57, 59 and 60 (EUR 5.2, 5.4 and 5.5) for the most traded weight classes, between three and six kilograms.

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.

“Most of it has so far sold over NOK 60 (EUR 5.5),” says a fish farmer who also confirms clearly rising prices for next week.

“An euro exchange rate (against the Norwegian kroner) of 10.86 – that also helps,” he added.

But not everyone sees rising prices.

“I hear the price rise people are talking about are off. They talked yesterday about 60 kroner (EUR 5.5), but who is willing to join in the rally?” he asked rhetorically before answering himself: “None.”

“Europe must take most of the fish. There are no other markets. China is at a stop. The US is a bit up on fillets, but there is a whole different world to Norwegian prices. There is a lot of big fish in general available. Chile has a lot of big fish. Norway also has some. No one runs volume and sells afterwards. Now it is only back to back (buy with fixed sales order – ed. note),” he said.

SalmonBusiness’ industry sources refer to the following farmgate prices, for the most traded weight classes of salmon to be delivered this week:

  • 3-4 kg NOK 57-59 (EUR 5.2-5.4)
  • 4-5 kg ​​NOK 57-60 (EUR 5.2-5.5)
  • 5-6 kg NOK 60-64 (EUR 5.5-5.9)