Farmers hold firm as salmon climbs NOK 10 in a week.
When the Chinese New Year celebrations are over, salmon prices are climbing again.
“I hear that expectations among several farmers are relatively high, but the market does not yet provide a basis for any major increase,” a trader tells SalmonBusiness.
“There are reports of varying prices, but the level appears to be in the range of NOK 77–80 ($7.70–8.00/€6.85–7.12), which corresponds to a moderate increase.”
By comparison, a large volume of fish was sold at between NOK 73 and 74 ($7.30–7.40/€6.50–6.59) to farmers last Friday.
More comfortable
“It is a modest increase. We reached a level that was a little more comfortable to work with. Willingness to secure volume is slightly higher now. But we have to be cautious because it is not Easter yet,” says an exporter, referring to prices between NOK 78 and 80 ($7.80–8.00/€6.94–7.12) for fish from three kilos and upwards.
“There is a very large volume of big fish in circulation.”
“And China is back from holiday?”
“Yes, but Korea has a public holiday next week. There is slightly less activity. There is quite a bit of 8+ fish, and not everyone can take that. Not industry, more Horeca. I would say the large fish is not moving as much as the industrial fish.”
“The market decides, but there is usually an element of higher prices around Easter and of course in May,” the exporter says.
Little unsold volume
The farmers SalmonBusiness has spoken to are generally seeking somewhat higher prices.
“No, we are hearing above NOK 80 ($8.00/€7.12),” says one farmer. “We have not sold anything, but I am hearing NOK 84–85 ($8.40–8.50/€7.48–7.57) for 3–6 kilo fish. Rising prices throughout the week.”
“That is NOK 8–10 ($0.80–1.00/€0.71–0.89) up from Friday. There is quite a lot of large fish. Most people are sold out. The market seems fairly solid. China is returning after Chinese New Year.”
He is supported by another farmer:
“We have sold at NOK 83–86 ($8.30–8.60/€7.39–7.65). I can sell at NOK 85.50 ($8.55/€7.61) for 3–4 kilo fish. I do not think there will be much left unsold this week. The market is slightly up for the current week and next week.”