Solid rebound after a four-week price drop

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The salmon price jumps.

“It seems that it ends up around 58 kroner (EUR 5.8) at 3-4, around 60 kroner (EUR 6.0) at 4-5 and at 5-6 – especially at the beginning of the week there is little of it – 63-64 kroner (EUR 6.3-6.4). And it is good for us who have kept some fish, said a fish farmer to SalmonBusiness.

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.

This means a rebound for the salmon price after four weeks with a continuous fall. Last Friday, the average farmgate price was close to EUR 5/kg.

Combination
“It has climbed throughout the week. It started already on Monday,” said the farmer.

He pointed to a cocktail of reduced supply and strengthened demand as an explanation for the significant price increase.

“This is due to a combination of the fact that there is less fish available, and when you come down to a certain [price] level, there is more demand. I know there are many who have geared up at a number of factories in Europe,” he said, and added that he has just had an eager Italian buyer on the line.

Another fish farmer refers to prices of NOK 60 (EUR 6) for 3-4 kilos of salmon and NOK 63 (EUR 6.3) for 4-5 kg.

Press
Salmon buyers are not too happy with the price increase.

“They are trying to push up the price again. There have been less fish available this week,” said a trader. “They are trying to push it up 6-7 kroner (EUR 0.6-0.7). It will probably be up to 58-60 kroner (EUR 5.8-6.0). Not for 3-4, but for 4+.”

He emphasized that there are large price differences between small and large fish.

ISA 
“There are a lot of 1-3 kilos of fish available, and not many people want it. Lots of ISA (infectious salmon anemia) fish, lots of small fish slaughter. There are two different worlds,” he pointed out.

In recent weeks, SB’s sister publication iLaks has reported a number of ISA cases in Nordland and Finnmark, Northern Norway. Here, a lot of small fish are currently taken out of the cages.

Several traders see prices close to EUR 6 for the most traded weight classes.

“I think the average ends up around 60 kroner (EUR 6). It decreases more and more on the spot fish,” said one of them, and added: “It will be a bit turbulent for a while ahead.”