Steep salmon price fall for the last week of 2021

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Decline in week 52 for the first time in seven years.

“It has been a horrible week. Many have lost a lot,” said an exporter 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.

More than 100,000 tonnes of salmon have been exported from Norway alone in three weeks. It was too much to sell at this year’s highest price levels.

“Large gaps. 62-65 kroner (EUR 6.2-6.5),” said another exporter about next week’s salmon prices.

Critical
It is a heavy fall from last Friday, when prices traded around EUR 7 for the so-called industrial fish, between three and six kilos.

“Ten kroner [fall]. There was too much fish last weekend. The problem began then. So it has been critical all week,” said a processing plant manager.

He has not bought much fish yet.

“We are waiting. There are not many who will produce so much next week. Neither do we. We have to take some vacation.”

The farmgate price level is around EUR 6 per kilo.

“Yes, that’s where it is,” he said.

“But there are not that many buyers. That’s the point. One must see it in relation to the rise,” he said and referred to the huge price increase two weeks ago.

First in seven years
Several sources refer to prices around or just under EUR 6/kg.

“It dropped to 65 kroner (EUR 6.5) already on last Friday afternoon, and has fallen the whole week. Next week we buy at 56-59 kroner (EUR 5.6-.9) at 3-6 kg,” said a trader.

This is the first salmon price fall for week 52 that has been registered since 2014. Logistics chaos and unsold trucks. Lots of fish to handle.

“The market stopped. Too much fish. Customers could not take it all. And then you have the corona situation, with factories closed. A really bloody week,” he said, and added: “We are finished buying.”

“This is how it is sometimes: If it goes up too fast, it goes down again fast. But that it would be so bad, we had not thought,” he emphasized.