Supply contraction sends salmon prices up

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After a month-long fall, salmon prices are rising again.

“Prices are up quite a bit. How much is not clear yet,” says a trader to SalmonBusiness. “Well, maybe not at 6+, it’s quite a lot of it,” he adds.

In a market that has been characterized by reduced purchases in the wake of the spread of the Corona virus for the past four weeks, the supply side is now being highlighted as an explanation for the rise in prices.

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.

Smaller fish
“There are less fish available. A little less to harvest. There will be lower harvesting a few weeks ahead now.”

No one, neither fish farmers nor exporters SalmonBusiness has talked to today, says anything other than prices rising.

“Many packing stations are closed – and it is used for all it’s worth,” says one exporter.

Movement
“It seems that it is less of 3-4 and 4-5 [kg], but there is no movement in the [price for] big fish,” says another.

While the average salmon price last Friday was below EUR 6, it is rising again with around EUR 0.50/kg today. SalmonBusiness’ industry sources refer to the following farmgate prices, for fish to be delivered the coming week:

  • 3-4 kg NOK 62-65 (€6.2-6.5)
  • 4-5 kg ​​NOK 63-66.50 (€6.3-6.6)
  • 5-6 kg NOK 64-67 (€6.4-6.7)
  • 6+ kg NOK 60-65 (€6.0-6.5)