'Madness' in Norway as salmon prices keep climbing

Prices are above NOK 75 into the new week.

The price party -- for salmon producers -- continues.

Norwegian salmon prices continue to climb and are above NOK 75 (€8/$8.90) per kilo, players told IntraFish on Friday, calling what they are seeing “madness.”

Salmon prices rose last Friday, especially for European buyers, as the Norwegian krone value increased, and this week prices are getting even higher.

Fresh salmon into Europe is between NOK 76 (€8.10/$9) -- NOK 77 (€8.20/$9.20) per kilo, according to industry players.

Overall, prices are up between NOK 3 (€0.32/$0.36) -- NOK 4 (€0.43/$0.48) per kilo compared to last Friday.

"The prices go up, which is very surprising," said an exporter, adding that they could see no reason for the increase.

Other exporters agreed.

“The level is ridiculously high. It is very strange that prices are rising, there was fish from last week,” he says.

A third exporter also refers to the price increase as surprising, and believes prices will fall again soon.

"In April the feed sales were up, while the slaughter was down. There is a lot of fish in the sea that will get up eventually,” he said.

“When the volumes come up, there will be a dramatic drop in the price.”

The exporter also said next week is a public holiday on Thursday, and some slaughterhouses will also be closed on Friday.

"There will be small volumes next week," he said.

A European buyer rejected the high price level after being offered a price of €8.85 ($9.90) to €9.00 ($10.10) per kilo delivered northern Europe.

“What we see now is madness. Earlier today we bought fish at NOK 8.50 (€0.90/$1) per kg, now they are rising it up to €9 ($10.10) per kilo," he said.

IntraFish has received the following prices in average (fob facilities)

  • 3-4 kg -- NOK 76 (€8.10/$9) per kg
  • 4-6 kg -- NOK 76 (€8.10/$9) to NOK 77 (€8.20/$9.20) per kg

---

For more seafood news and updates, follow us on Facebook and Twitter or sign up for our daily newsletter.