Major ripple effects from the war in Ukraine.
“We have very little fish to sell, and have nothing to report on 3-6 kg. We have big fish, and that market has not been set yet. What we have sold for big fish is linked to Nasdaq, and we do not know yet,” says a fish farmer to SalmonBusiness.[factbox]
“We hear the prices for main sizes from 75 to 79 kroner (EUR 7.5-7.9). And the big fish, if you manage to push it into a market like China or Korea, then the price is 100 kroner (EUR 10).
But average prices are falling sharply, from a level in the mid-80s last Friday.
“Fish from the Faroe Islands to Russia must find a new home. There are a couple of hundred tons weekly there. And 650 tons that were going to Ukraine must enter other markets. Then you have air freight problems and a lot of psychology. It’s a combination.”
“Chilean frozen fish that goes by sea with container ships has gone to Russia. There is a halt to new sales, but it has not affected the market in Europe significantly,” he says.
All of SalmonBusiness’ industrial sources point to a sharp fall in prices.
“Prices have been under pressure all week due to cancellation of flights. More fish are entering Europe, and there has been a turbulent atmosphere,” says a trader.
“The fresh fish race in Europe is going its own way,” he says, and sees prices around the mid-70s.
So do a number of other exporters SalmonBusiness has spoken to on Friday.
“We have sold at 10-12 kroner (EUR 1-1.2) in losses. Bloody losses. It has been worst for the big fish,” says one of them, pointing at the challenging air cargo markets.