Softer salmon prices as new corona shutdowns hurt Horeca segment

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15th week in a row with salmon prices between EUR 4 and 5 per kg.

“A couple of kroner down, I think,” said an exporter to SalmonBusiness about next week’s spot price.

“Not much has been done so far. But it is clear that it is nervous outside, since more and more countries are closing down,” he said adding that corona infection leads to more canceled orders.

Stable for a long time
“There is a challenge with shutdowns in the market, but I see customers want to press the price down,” said another exporter. “I do not believe in a heavy price drop. A few kroner down.”

This means that the salmon price has remained exceptionally stable for a long time. It is actually the 15th week in a row with salmon prices between EUR 4 and 5 per kg. The price range has mostly fluctuated between EUR 4 and 4.3 – for almost four months in a row.

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.

“The danger is that the market will get used to the fish being cheap. But, when you look around the world, as long as things are going out, it’s good.”

Change
It also means that the annual autumn rise for the salmon price is long overdue.

“There was an abrupt change yesterday. It’s happening now. Especially on the larger sizes. Poland is filled up, and there is no doubt that it will go down,” said an importer about the spot price.

“I hear there is 20 cents between the sizes – 4.10-4.50 euros is what I have heard. Horeca goes away again. And it’s getting harder now, since there’s more big fish.”

According to SalmonBusiness’ industry sources next week’s farmgate salmon price will be:

  • 2-3 kg NOK 35-36 (EUR 3.2-3.3)
  • 3-4 kg NOK 42-44 (EUR 3.8-4.0)
  • 4-5 kg ​​NOK 44-46 (EUR 4.0-4.2)
  • 5-6 kg NOK 44-47 (EUR 4.0-4.3)
  • 6+ kg NOK 48-53 (EUR 4.4-4.9)