Nordea analyst Kolbjørn Giskeødegård with full coverage of the salmon price.
“To put it a bit, the spot price of salmon may still be at the current level, around NOK 45 (EUR 4.5), when we enter December. And it can also be NOK 70 (EUR 7),” he told Dagens Næringsliv.
“A lot depends on how fast the fish grows and how quickly it gets phased into the markets”.
Giskeøødegård has seen the recent week’s price fall. On Friday, 4-5 kilos of salmon were traded at EUR 4-4.2/kilogram. This is the lowest price level for salmon since 2015.
- Read more: Increasing inventories strengthen salmon buyers’ bargaining power – and push the price down
But it is not only salmon that is under pressure in terms of price. Trout is even worse off – with rapidly growing feed price and biomass.
“The industry had a loss of fish due to the algae bloom in May, but if we disregard it, the loss of fish is less than in several years. This means that the underlying biology of the sea is better. Growth has also been better with a mild winter and spring and without the heat we had last summer. Then there are the players who have invested billions in large-scale production to reduce production time in the sea, and we are now starting to see the effects of this,” he told DN.