Shortage of heavy salmon fuels a ten percent price hike

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Price jump up from last week’s low.

“A big leap. It is not large fish to get hold of. Four kroner up,” says a Norwegian fish exporter to SalmonBusiness.

He’s puzzled with the somewhat substantial rise in salmon prices from last Friday.

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 in print. We vary the sources we use and do not use the same sources each time.

“Nobody understands the reason, because the market is not there. There is plenty of fish,” he says. “The fish farmers are determined. But not much is confirmed by the customers.”

“A little up, but also a weaker currency development. We’ll see,” says a salesperson at a large aquaculture company.

“The European processors have finished their holidays, so they will start shopping now.”

“I think we’re going to be at this price range for a good while to come. Certainly many who will freeze in too. The price of 4-5 is hardly NOK 47 (€4.7) in December,” he adds.

SalmonBusiness’ industry sources outline the following farmgate prices for salmon to be delivered to the market next week:

  • 3-4 kilograms NOK 44-45 (€4.4-4.5)
  • 4-5 kilograms NOK 47-48 (€4.7-4.8)
  • 5-6 kilograms NOK 50-52 (€5.0-5.2)
  • 6+ kilograms NOK 65-70 (€6.5-7.0)