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Norwegian salmon prices set to shoot up heading into Easter

Small volumes and a lot of uncertainty are likely to result in high prices.

Norwegian salmon prices are likely to rise to levels above NOK 70 (€7.30/$8.20) per kilogram next week, amid small volumes and high uncertainty, industry players told IntraFish.

Trading is slow, and “next week there are many who will only harvest on Monday and Tuesday, maybe a little on Wednesday, but then it's Easter,” said one exporter.

Another exporter said farmers are asking for more than NOK 70 (€7.30/$8.20) per kilogram, but there is little acceptance of this level.

“Customers are only annoyed when we say those prices,” he said.

He is expecting a "quiet market," and believes that the producers must "calm down their price expectations a notch.”

“As usual this is the Friday before the Easter period and there is a lot of back and forth,” a farmer told IntraFish.

“It's a waiting game. Not a lot of fish will be slaughtered until the week, but we're sure of a price rise," he said.

Another farmer has not done anything in particular but expects a price rise of at least NOK 3 (€0.31/$0.35) to NOK 4 (€0.42/$0.47) per kilo.

"We're talking about prices of NOK 70 (€7.30/$8.20) to NOK 71 (€7.40/$8.40) to NOK 72 (€7.50/$8.50) per kilo for sizes 3 to 6 kg, but I don't know where we end,” he said.

A foreign buyer is quoting above the asking price.

"There's a talk about prices of NOK 70 (€7.30/$8.20) to NOK 74 (€7.70/$8.70) per kilo, but as far as I know, nobody has done anything yet."

Another foreign purchaser believes that "it is madness this week."

"Although it should be under NOK 70 (€7.30/$8.20) per kilogram, I don't think we end there," he said. "So there is tremendous uncertainty, and everyone says that there is not enough fish."

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