Price rebound after four consecutive weeks of decline

The salmon price is strengthening again.

“There is an upswing,” says an exporter to SalmonBusiness. “NOK 58 (EUR 5.8) for 3-4 kg, NOK 59 (EUR 5.9) for 4-5 kg, NOK 61 (EUR 6.1) for 5-6 kg and NOK 63 (EUR 6.3) for 6+. That’s how we see it right now. I don’t think it will get any lower than that. Then I think we’d rather have to raise a krone before we close the deals with the fish farmers.”[factbox]

He sees several drivers behind the increase.

“Increased [processing] capacity from Europe plays a role. Now it seems that they are back from holiday and really hitting the factories. Not as much pressure out of Northern Norway as it was expected to be, but there is more going on. Biomass and lice are in the south, there is not that pressure in the north,” he explains.

“But, without a doubt, they are cutting a lot [of fish] in Europe,” he emphasizes.

Gone out
“58-59-60. 6+ uncertain, but high activity,” writes a fish farmer in an SMS with reference to the most traded weight classes.

“Around NOK 60 (EUR 6.0). That is what is being said. 6+ NOK 63 to NOK 65 (EUR 6.3-6.5),” says an exporter. “That’s how the picture is. It went pretty well this week. Little fish today too, the fish have gone out,” he adds.

“But there will be more fish eventually. Then we’ll see how it turns out on this rise.”

Farmgate prices around NOK 60 (EUR 6.0), which represents a rise of around ten percent in one week, are confirmed from several sources.

“There was a bit more hunting this morning, it has come down again,” says a trader, who points to prices of NOK 58-60 for 3-6 kilos, and 65 for 6+. “There is no shortage of fish.”

“We depend on people building inventories, but it has become much more expensive. So it’s not quite straight forward. There will probably be an adjustment up and down for a while in the coming weeks – as we see it. The fish they bring in now is not to be eaten, it is to be stored. The power is with the producers out in Europe right now, and will be for a few months,” he believes.

The price promise is also confirmed by another fish farmer:

“We have achieved sales of NOK 58.50-59, 60-61, 62-63 (for three to six kilos) and NOK 68 for 6+.”


Related Articles