Prices weaken on low sales volumes

Aslak Berge

A four-day week fails to enthuse buyers.

“It’s a bit difficult out there, I think,” says a buyer about the salmon market.

“With the Faroe Islands out, one would think it would pick up, but it’s stopped. There is incredibly little activity out there.”

“We bought some trucks at the end of the week, from one of the larger producers, and we got it cheaper than last Friday: NOK 119 ($11.07/€10.23), NOK 122 ($11.35/€10.49), and NOK 126 ($11.72/€10.84) (for three to six kilos).”

“These are still reasonable prices, one could claim,” he tells SalmonBusiness.

“There is still some volume that remains unsold. It hasn’t been easy to place the fish this week. It hasn’t,” he says.

This indicates a slight price weakening – for the second week in a row.

“The producers are guiding stable prices, while we say it must go down. I think very little trade has happened yet. And that’s despite there being little fish available,” says an exporter.

Several other exporters SalmonBusiness has spoken with believe in falling prices, down to NOK 120 ($11.16/€10.32), going into next week.

“People fear a fall in the coming weeks. People are waiting. We have said no to a lot of fish. It’s hopeless to find customers. You can’t get customers to commit at these levels,” explains one salmon trader.

“Not much fish is moving. Much of the market has just given up. But when there is little fish, that’s just how it is,” he continues.

“But there is no functioning market at NOK 120 ($11.16/€10.32). That’s for sure.”

SalmonBusiness gathers spot prices for salmon every Friday after lunch, tracking fish to be delivered the following week. This process involves contacting multiple entities in the value chain, including farmers, exporters, and importers. At least five independent sources are consulted, though they may not always be publicly disclosed.


Related Articles