Shortage of heavy salmon gives new price jump

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But there is a wide spread in the price level depending on which market the fish is placed in.

“We have confirmed sales of 66 kroner (EUR 6.6) at 3-4 kg, 70 kroner (EUR 7.0) at 4-5 kg, and 5-6 kg we have not sold yet, but believe we can get 72-73 kroner (EUR 7.2-7.3). At 6+ kg you can get up to 80 kroner (EUR 8.0) in Europe, and even more in China. There are low average weights and a strong shortage of 6+,“ said a salesman at a fish farming company to SalmonBusiness.

He is not surprised by the price jump.

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.

“It is a bit as expected when the late December price was as low as it was, but there is a moderate supply, both in Chile and Norway,“ he remarked.

Gap
This is a significant increase in prices from last week, when the fish was traded around EUR 6/kg. All industrial sources point to a clear rise in prices for the coming week.

“Strong gap in [overseas] air cargo markets versus industry (in Europe – editor’s note). Prices of 3-4 kg (and up) from 65-68 kroner (EUR 6.5-6.8) – (overseas) flights are 70-77 kroner (EUR 7.0-7.7),“ said a buyer to SalmonBusiness.

This means that there is a historic high price level at the beginning of the year. In the last 30 years, higher January prices have only been registered twice – in 2017 and 2020.

Period
“Up two to four kroner, I think,“ said a trader, and referred to prices from EUR 6.3 to EUR 6.8 kroner for the most traded weight classes.

“We can buy at those prices, because the big ones (farmers – ed .note) have a lot of fish. We have not bought that many truckloads, but we have bought a few. It will probably be a period where the big players have 75 percent of the fish,“ he predicted.

“A price in the mid-60s is not too bad,“ he said, but mentioned the corona as a x factor. “There are lots of variables to consider. We can not predict that, we just have to live with the market.“