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Plunging prices for large salmon dragging rest of market down

Prices of the largest sizes have fallen as much as NOK 13 (€1.40/$1.60) per kilo over the week, according to some reports.

A dramatic drop in prices for the bigger sized salmon -- of six kilos and above -- is dragging down the entire market, according to industry players.

According to some, these sizes have seen prices plummet by as much as NOK 13 (€1.40/$1.60) per kilo.

“There is a heavy price pressure on sizes of six kilos and above, which is down by NOK 12 (€1.30/$1.50) to NOK 13 (€1.40/$1.60) per kg compared with last Friday, one exporter told IntraFish.

“Suddenly big fish came onto the market, not only from Norway but also from Chile and the Faroe Islands,” he said.

The other weight classes have also seen prices fall, but by much less. These are down around NOK 2 (€0.21/$0.24) to NOK 3 (€0.32/$0.36) per kg on average, according to the exporter.

"We see that the distance between the different weight classes is getting smaller, which is common at this time of year,” he said.

“What's really surprising is that it has not happened before now.”

According to the exporter, "very little fish" has been traded - many are still in negotiations, but others are also keen to sell leftover fish from last week.

Another exporter reports a lot of the same.

“It's still a bit uncertain since we've hardly ever done anything but prices are a little down for the middle classes, and very much down for the big fish,” he said.

According to the exporter, the question is less about why the prices are dropping this week, but more about why they increased so much last week.

“You should also ask why prices rose last Friday,” he said. “The market should also have priced in the increased volumes that came out this week. Still, there is unfortunately a lot of unsold fish from last week.”

While two exporters believe that the prices range from NOK 50 (€5.30/$6.10) to between NOK 51 (€5.40/$6.20) and NOK 53 (€5.60/$6.40) per kg for the different weight classes, others consider that they are between NOK 51 (€5.40/$6.20) and NOK 53 (€5.60/$6.40) to NOK 55.50 (€5.90/$6.70) per kg.

Others are also reporting about NOK 55 (€5.80/$6.70) to NOK 57 (€6/$6.90) per kg for the largest sizes of six and above.

“Although the price is sharply down, I do not think it is anything below NOK 60 (€6.30/$7.30) per kg. The price is likely to be closer to NOK 65 (€6.90/$7.90) per kg,” one exporter said.

Overall, IntraFish was told of the following prices:

  • Sizes 2-3 kg – NOK 43 (€4.60/$5.20) per kilo
  • Sizes 3-4 kg – NOK 49 (€5.20/$5.90) to NOK 51 (€5.40/$6.20) per kilo
  • Sizes 4-5 kg – NOK 51 (€5.40/$6.20) to NOK 53 (€5.60/$6.40) per kilo
  • Sizes 5-6 kg – NOK 53 (€5.60/$6.40) to NOK 56 (€5.90/$6.80) per kilo
  • Sizes 6kg and above – NOK 55 (€5.80/$6.70) to NOK 65 (€6.90/$7.90) per kilo
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