Slightly lower salmon prices for next week

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Currency focus in a stable market.

“It has turned out to be enough fish, even though less are being harvested. We have experienced price pressure, especially on large fish (airborne to Asia). Actually on the fish to Europe as well,” says a buyer to SalmonBusiness.

“It points to an NOK 80-85 (EUR 8.4-8.9) level,” he says about the salmon price for the coming week. He adds that he paid NOK 84-88 (EUR 8.8-9.2) for 3-6 kg salmon 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. We vary the sources we use and do not use the same sources each time.

“It is a weakening,” he continues. “Too much that stops on planes, both capacity, but also covid that is definitely not finished in the world.”

No major movement
“It seems that it will be down to 80-82 kroner (EUR 8.4-8.6),” says an exporter.

“There have been a number of fish left today, which have proved difficult to sell. Some say they have less fish to harvest. It is a motley picture, but not large movements. Prices weaken a little, but not much,” he adds.

However, a fish farmer sees stable prices.

“85-87 kroner (EUR 8.9-9.1) for 3-6 kg. 6+ kg has hung after the last week,” he says, and refers to a price curve that goes sideways.

“Sideways in Norwegian kroner means increased price for the customer in euros, a couple of kroner, because there is a change in currency here,” he remarks.

Pressure
Currency is an important key word today.

“A lot of currency-based,” says a trader, and continues: “The euro is at 9.50 (vs NOK), and that is quite a lot actually. If customers say they buy for nine euros (delivered to the European continent – editor’s note), it means 81 kroner to the farmer. We buy on that.”

“It is quite similar price of 3-6 kilos, but price of 6+ is 3-4 kroner (EUR 0.3-0.4) lower. This means that not many planes fly east. Air freight has become so expensive. Customers are unable to defend their purchases. And China has shut down much of its market because of the corona. So then there will be price pressure westwards, towards the USA.”

“It is not so long since we locked the currency (euro vs NOK) at 10.20. Only there it is 5-6 kroner,” he points out.