The Ukraine war sends salmon prices straight down

Heavy price drop as Ukrainian fillet workers and truck drivers are sent home to defend their own country.

After two weeks of record-high salmon prices, there is now a sharp correction.

“I do not know if more fish has come in, but it stopped entering the market. It does not take much fish before it falls,” said an exporter to SalmonBusiness.[factbox]

Heavy fall
“I hear 80-81 kroner (EUR 8-8.1). It is 10-11 kroner (EUR 1-1.1) down from last Friday,” he pointed out.

“These prices attract more fish. It is clear that when the prices are 90 kroner (EUR 9), people harvest if they have anything.”

Heavily falling salmon prices are the review melody for all of iLaks’ sources.

“Falling prices. War and misery complicate things a lot. Not much fish go to Ukraine, but many truck drivers come from there and are called in for war. That’s what we hear from many transporters. It’s totally sick. An unpleasant situation,” said an exporter.

“I guess we end up with an average of around 80 kroner (EUR 8),” he added.

Several sources mention that Poland is reducing the capacity of its processing plants, since many Ukrainians work at these. They are now returning home to take up the fight against Russian invasion forces.

“Varying prices. It is uncertain, customers now decide. We do not dare to buy anything until we have a sale on it. It’s scary,” said one trader.

One fish farmer sees less movement in prices.

“Well, there were some canceled trucks to Ukraine this week, but all sizes for next week are at least in the 90s,” he said.