Weakening of the salmon price towards the Halloween weekend

High slaughter pressure in Norway is driven by tax considerations.

“NOK 2-4 down. [Farmgate prices at] NOK 67-68 (EUR 6.4-6.5) perhaps. It has been difficult to get anything done. But there is a slight decline,” says a trader to SalmonBusiness.[factbox]

“A lot of fish are harvested. It looks like it will be sold out a little early. It will probably be tighter in the winter,” he adds.

“NOK 67, 68, 70 (EUR 6.4-6.7) for 3-6 kg,” says another trader.

“As soon as there is some pressure, everyone waits to sell. But I see a couple of kroner down. We are in the high 60s.”

Halloween
The trade is, as usual, dominated by buyers in Europe.

“There are difficulties ahead, problems with payment in Europe. The price will probably fall by NOK 3-4 (EUR 0.3-0.4) from last Friday,” says an exporter.

“Towards the end of the week, there are public holidays, 31 October and 1 November, with Halloween, or Thanksgiving, which is celebrated in many countries in Europe. Many are closed on both Monday and Tuesday. They don’t want fish until Wednesday next week. It is a somewhat complicated picture,” he points out.

Others hope for stable prices.

“It is early, but there is talk of going sideways from this week. Same prices,” says a fish farmer. “I haven’t sold anything yet, but have received offers of NOK 68, 69 and 70 for 3-6.”

The fight
Another farmer is also hoping for farmgate prices around NOK 70 (EUR 6.7).

“We are trying to get more, but are probably about to give up the fight,” he says and points to realistic price level of NOK 68, 69 and 71 (EUR 6.5, 6.6 and 6.8).

He then embarks on an analysis of where the price path will go in the future:

“It is difficult to predict. How little is slaughtered elsewhere when more is slaughtered here (due to tax – editor’s note)? How much is being frozen now? Because many people think Q1 is going to be completely wild,” he continues.

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