The high price level continues in a wait-and-see market

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Demand runs faster than supply.

”Some people talk about an increase of a krone or two. We can not expect so much fish going forward. It is always a bit hesitant when prices go above 70 kroner (EUR 7). So I do not believe in the very large movements, but to the extent that there will be movement, I think it will be a krone or two. It does not go down. It will probably be stable or up,” said a buyer 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.

”There has been a lot of bad weather this week, but I do not know how much impact it has had on the harvesting,” he added.

He received support from other exporters.

”Yes, a little up due to storm and shortage – between 70 (EUR 7) and 80 kroner (EUR 8),” said one of them about the salmon price.

Nervous
”Mostly sideways, I think. Quite stable,” said a third exporter, and mentioned the following prices: NOK 66-67 (EUR 6.6-6.7) for 3-4 kg, NOK 68 (EUR 6.8) for 4-5 kg, NOK 70 (EUR 7) for 5-6 kg and NOK 72-75 (EUR 7.2-7.5) for 6+ kg.

”I hope it holds. We are always a little nervous when we are at this level. But it’s not just easy to sell at these prices. I have to be honest. It is not easy sales work when the price is so high.”

He believes there is a fair balance between supply and demand.

”But the [processing] industry out there is struggling with these prices here, we know that.”

Shortage
”It’s not a lot of fish around. There is a good momentum in the market. It does not seem that the big industry is the driver. I think it may last for some time to come. When volumes fall, it seems as if it is the fresh market that is pulling it,” said a salesman in a fish farming company.

”Today we have 74 kroner (EUR 7.4) for 3-4 kg, 75 kroner (EUR 7.5) for 4-5 kg and 85 kroner (EUR 8.5) for 8+ kg. One should of course have had more [salmon] at those prices. But there is a reason why it is so well paid, it is a scarce commodity. With the harvesting that were in the second half of last year, there are simply fewer fish. So it looks strong going forward. There will be no more fish from our shores, we will remain at this level going forward,” he said.

Others hope for a price weakening soon.

”There have been strong prices for a long time now, and the market has begun to take hold. The air cargo market is noticing more coronary restrictions and downsizing, especially Japan,” said one buyer.

”Currency raises prices in the market without raising prices to farmers. And solid pressure on harvesting as well,” he said.