Steep price fall as harvesting volumes increase

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Increased supplies send the spot price down for the second week in a row.

“I hear it goes down to 60 kroner (EUR 6). We get the usual “last week in the May drop”. Larger volumes are being announced for the market,” said an importer to SalmonBusiness.

“I guess it ends up just above 60 kroner. There is a lot of unsold fish,” said an exporter.

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.

More fish
“It goes below 60 kroner,” said another exporter. “More fish as well as harvesting this weekend,” he explained.

He received support from a trader:

“3-4 kg goes under 60 kroner (FOB fish farmer) again for the first time in a while. 58, 59 and 60 kroner (EUR 5.8, 5.9 and 6.0) for 3-6 kg. That’s what they’re talking about. There will be more fish to sell.”

“There has been a state of emergency in the market for three months. It lasted in March, April and May. The volumes have been low. But now the growth [in the sea] is starting to be good. We see that the harvesting is increasing quite sharply,” he continued.

Will change
“At level NOK 70 (EUR 7), you can not do anything in the market. It is difficult to plan anything, customers buy less”, he said, and added that he bought salmon at 65 to 69 kroner (EUR 6.5 to 6.9) (3-6 kg) last Friday.

He noted that harvesting volumes have been low for three months. That will change now, he believes.

“This is volume controlled. We see significantly more fish coming. There is good growth of 20G. It goes like a bullet.”

“Strong correction. Not sure how much. The bottom fell out of the market yesterday and Wednesday,” said another trader, who also refers to prices of NOK 58, 59, 60 for the most traded weight classes, between three and six kilos.