Turnaround for next week’s salmon prices

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After almost falling below EUR 4/kg a week ago, spot prices are at full speed up.

“It rises closer to five kroner (EUR 0.5) on average. I hear NOK 44-45 kroner (EUR 4.3-4.4) on average at 3+”, said a trader to SalmonBusiness.

He found several drivers behind the sharp 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.

“It is clear that there was a little less harvesting this week, a lot of (low quality) production fish, a lot of wounded fish, going away from traditional markets. There is high volumes of production fish at the moment, especially in the north [of Norway]. And it must be procesed in Norway,” he pointed out.

“There has been a slight deficit of 3-4 and 4-5 kg. Maybe 6+ is a little lower in price, there is plenty of big fish,” he summed up.

There is not much disagreement about the price level among the five industrial sources SalmonBusiness has spoken to after lunch on Friday.

“I guess it lands around 45 kroner (EUR 4.4), yes,” said an exporter.

“It is six kroner (EUR 0.6) up – at a weak time of year,” said another.

“I hear everything from 45 kroner (EUR 4.4) to higher, but I think 45 kroner is right,” said an importer.

“There is a huge amount of production fish in the north, and that contributes, and then the UK has stopped. And then there will be a deficit this week here”, he added.

“Fifty is the new forty”, wrote a fish farmer in a text message to SalmonBusiness.