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Norway farmed salmon prices fall amid plentiful supply

Reaction was pretty much similar everywhere with buyers expecting to pay less than last week.

Salmon prices remain under pressure and are expected to fall further over the coming week, amid abundant availability, according to ann IntraFish survey of buyers and sellers on Friday.

"There's salmon everywhere. I have enough salmon in stock and will not buy before the price falls below where producers are offering now," said one salmon buyer.

Reaction was pretty much similar everywhere, with buyers expecting to pay less than last week.

"Producers want to get the same price as last week, but they are being squeezed on price. The price will probably go down a bit," the buyer said.

"Salmon between 3 and 6 kilograms is going down in price, while salmon over 6 kilograms is up. So far, more agreements have been made based on the Nasdaq price," an exporter said.

"The market is really cool. The customers have power, they have stock and Norway presses on more fish. And I have to slaughter because it is very good growth. There is a lot of salmon that is stored in freezer storage both in Norway and abroad. It may soon be a longer period of low prices in the future," said one source IntraFish spoke with.

Few concrete deals were made on Friday, although it appears prices for salmon between 3 and 6 kilograms will end up at around NOK 40-45 (€4.00-4.50/$4.40-5.00) delivered to Oslo. Salmon over 6 kilograms, on the other hand, are being traded from NOK 60 per kg (€6.10/$6.70) and higher.

For fish farmers are seeing prices NOK 1-1.50 below that level, putting numbers at:

  • 3-4 kg - NOK 39-40 (€3.90-4.00/$4.30-4.40)
  • 4-5 kg ​​- NOK 40-42 (€4.00-4.20/$4.40-4.70)
  • 5-6 kg - NOK 42-44 (€4.20-4.43/$4.70-4.90)
  • 6+ - NOK 60 (€6.10/$6.70) and up.

Salmon exchange Fish Pool also notes that buyers have begun to build stock they plan to sell later. This may affect future prices for the fourth quarter.

"Buyers in Europe have started to build stock earlier than normal. Thus, prices are slightly lower for the fourth quarter. Right now, the buyer is at NOK 56.70 (€5.70/$6.30) for the fourth quarter, while the seller is at NOK 58.50 (€5.90/$6.50)," Fish Pool CEO Soren Martens told IntraFish.

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