Norwegian salmon prices were expected to fall back slightly by the end of Friday trading from the year-to-date highs reached last week as sellers meet resistance from buyers reluctant to pay out at similar levels.
The pain threshold for what customers are willing to pay for the salmon may have been reached, industry executives told IntraFish.
Last week, salmon prices surged for the second consecutive week as exporters and producers reported prices starting at NOK 115 (€10.37/$11.01) per kilo, climbing to NOK 150 (€13.53/$14.36) for the largest fish.
While salmon prices remain at very high levels, they are expected to fall by around NOK5 (€0.45/$0.47) next week.
"It has been a bit of a setback this week. There is still some leftover fish, which is NOK 10 (€0.90/$0.95) below the price from last week, and so we expect to pay around NOK5 (€0.45/$0.47) less today than last Friday," the exporter said.
Expectations range between NOK 114-NOK124 (€10.28-€11.18/$10.91-$11.87) per kilo for the main industrial-sized salmon, he noted.
For the largest fish, he indicated prices of around NOK 134 (€12.09/$12.83).
"A little more fish is expected to arrive, and things may calm down, but it is likely that prices will stay above NOK 100 (€9.02/$9.58) for some time to come," the exporter pointed out, noting that bad weather in the first two months of the year has affected logistics.
Another exporter also expects prices to slip by around NOK 5 (€0.45/$0.47) from last Friday, noting resistance from buyers and the availability of space for road and air transport.
"It may be that there is less fish, but it may be that customers stop buying because it is too expensive. You get salmon from Chile, and perhaps also Canada, which is a few kroner cheaper than from Norway. Customers find alternatives," the exporter said.
A producer in northern Norway said prices are going down a bit, but that there are somewhat mixed signals.
"We'll see, the signals have been down, but that's not necessarily how it will be," he said citing of between NOK 115-125 (€10.37-€11.28/$11.01-$11.98)/kg for 3-6 kg fish.
An IntraFish survey of market sources revealed the following prices.
- 3–4 kilos: NOK 114–115 (€10.28-€10.37/$10.91-$11.01)/kg
- 4–5 kilos: NOK 118–120 (€10.65-€10.83/$11.31-$11.50)/kg
- 5–6 kilos: NOK 123–125 (€11.10-€11.28/$11.79-$11.98)/kg
- 6+ kilos: NOK 135 (€12.18/$12.94)/kg
On Friday afternoons in Norway, contracts for fresh salmon are entered into for the next week's spot market trade.
Prices usually vary depending on weight class and production area, and may also vary depending on the market into which the fish is sold and the delivery day. In that sense, there is not one, but many, salmon prices.
IntraFish's price story is a snapshot at the time the article is published. Prices are often a combination of actual trades and expectations of trades later in the day.
While the use of anonymous sources can be problematic, the overwhelming majority of sources insist on anonymity when discussing their trading. We strive to get a balanced view from farmers, exporters and processing companies.
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