Third week in a row with falling salmon prices

Increasing activity in the market for frozen fish.

“It is down from last Friday,” says a fish farmer about next week’s salmon price. “NOK 62, 63.50 and 65 (EUR 6.3, 6.35 and 6.6) for 3-6 kg. It was even lower, but has rebounded.”

“Lithuania and Poland stand out – you can see that there is full activity on freezing and stock building. There will probably be a bit of a freezing on speculation in Norway, more than normal,” he says, and points out that it is holiday time in Europe.[factbox]

Lack of freezer packaging
The perception of falling prices is shared by all six sources SalmonBusiness has spoken to on Friday.

“Pressure on prices. More than expected. One thing we know: There will be more fish next week,” says an exporter to SalmonBusiness.

“But there is clearly too much fish, a lack of freezer packaging, there is a lack of cardboard packaging in Europe,” he adds.

“We are not the ones who decide the price. It is the market that tells us the price. And they get that price. We are at the mercy of the market. The demand side sets the price. In addition, there is a logistical problem. Difficult to get hold of transport, especially from northern Norway.”

Prices fall to the lowest levels of the year.

Other channels
“A place between 60-65 kroner (EUR 6.0-6.5); 60-61 kroner for 3-4, 62-63 kroner for 4-5, 66-67 kroner for 5-6 – it doesn’t fall that much. There aren’t that many of them,” says an exporter.

“There is a decline [in price – ed. note]. Lots of fish. Little can go towards other channels, such as frozen, because there is a lack of frozen packaging,” says a trader, and clarifies: “It is not cardboard packaging that lowers the salmon market, but it gives more fish in the fresh market.”

“It is a barrier to go below NOK 60 (EUR 6.0), but that does not stop the salmon market. I will not be surprised if the prices go below NOK 60, I will rather be surprised if they settle down. For now, we have chosen not to do anything,” he notes.


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