New setback as salmon prices fall closer to break-even levels

Market characterized by abundant supply, especially of large fish.

“It was stable until today,” said a trader about the salmon price. “But the problem is that the market has [almost] no use [for the fish].” [factbox]

A reduced supply of fish was expected, as a result of the extreme weather, called “Frank”, which has ravaged Norway’s northernmost parts. But so far there is no price impact from the hurricane.

“No. And then there are a lot of big fish. It is down a good deal to 6+,” the exporter added.

He saw a price weakening, with NOK 2-3 (EUR 0.2-0.3), for the most traded weight classes.

“At 3-6 kg it is 44 kroner (EUR 4.3) in the south [of Norway]. 6-7 kg goes for 43 kroner (EUR 4.2) in Oslo, which is equivalent to 41 kroner (EUR 4.0) in the north,” he said about the prices.

“It is a range from 41 (EUR 4.0) to 44 kroner (EUR 4.3),” said another. “It looks like 6+ is tougher than 3-5.”

This means a new week with prices around the break-even level for the majority of fish farmers.

“I have heard much of the same as I heard last Friday,” said an importer. “But the big fish goes with a discount here, there is no doubt about that.”

Others talk about even lower prices.

“I bought this week for 40 kroner FCA fish farmer (EUR 3.9),” said an exporter who specializes in airborne big salmon.

“We are aiming for NOK 37 for purchases of large fish,” he said hopefully.

When asked if the extreme weather “Frank” has had any effect on the price, his answer is short: “No.”