The salmon price rises to its highest level in eight months

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It has risen by almost 20 percent in one week.

“We have sold two trucks at 60 kroner (EUR 5.8), 3-6 kg. And then a new order ticks in here, while we talk, at 59, 60 and 61 kroner (EUR 5.7, 5,8 and 5.9) for 3-6 kg,” said a fish farmer to SalmonBusiness.

“Up to eight kroner (EUR 0.8) in a week,” he said about the salmon price.

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’s not less fish. There is good demand. The volumes are relatively high. We are happy,” he added.

Storms
The slightly euphoric price picture is confirmed by all sources SalmonBusiness has spoken to after lunch on Friday.

“When it approaches 60 kroner (EUR 5.8), the focus is set by the producer. So it’s more about what he should have than what the market is willing to pay. But there has been a price increase due to the storm that has been this week. It came on Monday, and that is why prices took off,” said an exporter.

“I have not bought much, but hear 60 kroner (EUR 5.8) for 3+ kg. It happened fast. One euro in a week,” said another.

He scratches his head, and admits that he was taken by surprise by the price jump. He has spent the day finding the drivers behind the new development.

“Delayed harvesting, the farmers want to make the most of the maximal allowed biomass, the lice situation is stable and calm. Remember that the run-up to Easter begins in weeks nine and ten. There are definitely less fish. The month of March is set to get a high price.”

Shortage
“We have seen it before, prices can fluctuate a lot and fast. When there is a shortage, there is a shortage,” said the exporter.

“Price has come down a bit to the consumer. Salmon is a popular product. There is a lack of air cargo capacity. The demand is greater than we can meet,” he reasoned.

Some see even higher prices than this.

“62-65 kroner (EUR 6.0-6.3),” a trader wrote in a text message to SalmonBusiness, explaining that fish farmers are pushing up prices and it will fall back. “It’ll recoil on Wednesday next week,” he added.