The salmon price jumps ten percent: “It is the strongest demand I have ever seen”

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Have we put the year’s lowest prices behind us?

Things are heating up. Seasonally, the salmon price will start to climb now – on its way to a peak around Christmas.

“What we have sold on, we have great volume now so we have to sell to all segments, is 53 kroner (EUR 5.4) at 3-4 kg, 55 kroner (EUR 5.6) 4-5 kg ​​and 57 kroner (EUR 5.8) at 5-6 kg,” said a seller at a fish farming company, before adding: “There are Poland 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.

“And then we have target prices of 55, 57 and 60 kroner (EUR 5.6, 5.8 and 6.1). Our customers say that they can buy at 54, 57 and 58 kroner (EUR 5.5, 5.8 and 5.9). The truth is, I guess, a place between Poland prices and target prices: 54, 56 and 58-59 kroner (EUR 5.5, 5.7 and 6.0).”

In that case, it means the highest prices on this side of mid summer.

Optimistic
“At the same time, the currency (EUR/NOK) has gone from 10.17 to 9.88 in two weeks. But whether it is three, four or five kroner up is not so interesting. All the last four weeks are the highest export weeks ever from Norway – with price increases on top of it all. A few weeks ago we could explain at once that it was inventory building, but now it is not. I know many big players who say they do not do it anymore. Now there is pure demand. It is the strongest demand I have ever seen,” he said enthusiastically to SalmonBusiness.

“We hear from retail that fresh salmon in Germany – it is far better than we thought. There is reason to be optimistic about the price of salmon for some time to come. What we see now is the rawest,” he said, taking a little break, before he continued: “We are well into the 50s, while we, only fresh, sell 5-6,000 tons more every week out of Norway. And there is normal volumes from the Faroe Islands and the others in Europe. The United States has 15 percent more supply year to date and other proteins have also risen in value – red meat, frozen seafood and so on.”

All of today’s industry sources say there is a clear price increase for the coming week.

“I bet it’s up to 55 kroner (EUR 5.6). There are probably those who want lower as well, but it probably ends up there,” said a trader.

Raised
“It’s up, I hear. It is uncertain how much it is up, whether there are a few kroner up or more,” said an importer. “The integrated ones have only raised the prices, but I hear some are sent to Poland – at lower prices.”

“Everyone try to get the price up. They started up a lot early today, but it has calmed down. They now offer a couple of kroner up,” said an exporter.

He referred to the following farm gate prices: NOK 52 (EUR 5.3) for 3-4 kg, NOK 53 (EUR 5.4) for 4-5 kg, NOK 54 (EUR 5.5) for 5-6 kg and NOK 55-56 (EUR 5.6-5.7) for 6+ kg.

Can you buy at those prices?

“No, I do not know. Everyone is waiting. It seems like it’s going to be a long afternoon. If it becomes more expensive, one must almost limit the quantity. Much of the fish is bought for storage. There is no market for all this in the fresh market. But it is difficult to predict. It is a strong market,” he said.