Black Friday – also in the salmon market

High volume sales at discounted prices.

“It’s Black Friday for salmon. The stock markets are falling, covid and more trouble. It spreads to salmon,” said a buyer to SalmonBusiness.

As a result of renewed pandemic fears, the oil price weakens significantly, dragging down the value of the Norwegian krone.

“The market has not fully settled yet,” he said, and added that he hopes to buy salmon under NOK 60 (EUR 6).

“A bit below that too,” he said hopefully. “This is where the market is now”.

Rough week
Fish farmers also see falling prices.

“58 kroner (EUR 5.8) at 3+ kg FCA Northern Norway,” wrote a farmer in text message to SalmonBusiness.

“It’s going down, said another farmer. “I think there are many exporters who have had a rough week and lost a lot of money. They are probably the ones who have the loudest voices today.”

“We have placed 13 trucks at prices around 59, 60 and 61 kroner (for three to six kilos). 62 kroner (EUR 6.2) for 6-7 kg to Europe, and what you manage to get into China you get around 70 kroner (EUR 7) for. That is a couple of kroner lower than our prices last Friday.”

He is also aware that fish are offered at even lower prices.

“We have exporters who offer us 58, 59 and 60 kroner,” he said.

Air freight
This means an abrupt stop after two weeks with sharply rising prices.

“57-58 kroner (EUR 5.7-5.8), I think. 3-4 kroner down,” said an exporter about the salmon price. “We notice the nervousness is spreading in Europe due to the situation with Covid infection.

“I talked to a farmer now. He had received 58 kroner (EUR 5.8) flat on 3+. A flat price of 3+ is normal for the season, i suppose.”

“It has been a nervous week out. Customers fear a full shutdown in Germany. Air traffic is starting to get congested. Fewer aircraft means less capacity for air freight. So it’s not easy. It can affect Christmas sales a great deal. But as long as we manage to keep this price, it’s ok. It’s not a bad price.”

Newsletter