Sluggish export market awash with fish.
After three consecutive weeks of falling salmon prices, the downward trend continues today.
“It’s looking bleak. I was hoping things would at least hold steady, but it’s dropping further,” a salmon trader told SalmonBusiness.
“I’d guess 3–4 kg fish are going for NOK 48–50 ($4.75–$4.95/€4.03–€4.20), and about a krone more for 4–5 kg, around NOK 50 ($4.95/€4.20). For 5–6 kg, maybe NOK 51–53 ($5.05–$5.25/€4.28–€4.45). If you’re flying 6+ kg fish, you might get NOK 7–8 more per kilo, but you won’t get that in Europe.”
He’s clear on why prices are falling.
Holiday season
“There’s just a lot of fish being harvested. Simply too much, while the market is on holiday. And it’s warm and all that. Demand is weak. We’re just supplying regular customers,” he says.
That means most of the country’s salmon farmers are now selling below cost.
“It’s obviously tough for the farmers who are selling below production cost. And that’s probably going to continue for a while,” he predicts.
Prices haven’t been this low since autumn 2021.
MTB harvest
“The price is absolutely terrible. Under NOK 50 ($4.95/€4.20),” agrees an exporter.
“Today, 4–6 kg fish traded in Oslo at NOK 49 ($4.85/€4.12). It’s completely off the rails. So what happens next week… Europe’s still on holiday and we’re harvesting even more. It’s an MTB week. We don’t have a choice. There’s just a crazy amount of fish coming out.”
“It’s total chaos right now. We just have to place the fish however we can. August and September are going to be brutal. We’ll have to freeze the fish. There’s no alternative. We need customers who can take the volumes. That’s really the main focus. We’re doing our best, and the price will be what it is,” he continues.
“Right now, it’s simply a case of too few customers and too much fish. It’s going to be a tough autumn,” he concludes.
