Toxic algae bloom shaking up the salmon market

News
634

High mortality creates great uncertainty in the market.

“It fell heavily. It happened pretty fast – two hours ago,” an exporter told SalmonBusiness.

“It was too high. When you pass 60 kroner, the market does not work properly,” he explained.

“There is a chaos today,” said a salmon seller at a Northern Norway fish farmer. “There is a bit going on around the algae bloom, and how the market reacts to it. Some might need to slaughter fish during the weekend. There is a lot of this fish that is 1-3 kilograms.”

“For 3-6 kilograms I hear stable prices, but so far there has not been many sales. I also hear from some exporters that it will go down,” he added.

However, price decline is the story from most sources today.

“A couple of kroner on large [fish] and four kroner under four kilograms,” an exporter wrote in a text message to SalmonBusiness.

“It should be down to between 55-60 [NOK]. Don’t dare buy. Must get specific from the market,” wrote another.

“It’s full slaughter week next week. So it is clear that it [salmon price] is going down,” said a foreign importer, and pointed out in particular the algae problems in Northern Norway.

The seven industrial sources SalmonBusiness have talked to on Friday refer to the following price range (FOB fish farmer) for the next week:

  • 3-4 kilograms NOK 55-58 (€5.7-6.0)
  • 4-5 kilograms NOK 57-60 (€5.9-6.2)
  • 5-6 kilograms NOK 58-63 (€6.0-6.5)
  • 6+ kilograms NOK 65-72 (€6.7-7.4)