Norwegian farmed salmon prices recovered slightly after weeks of low levels as the market struggled with weak demand, especially given recent renewed coronavirus lockdowns in Europe.
"The price increase started on Tuesday and Wednesday this week and has continued today," one farmer told IntraFish.
The price is up about NOK 3 (€0.28/$0.33) to NOK 5 (€0.46/$0.55) per kilogram, depending on the volumes sold the week prior.
However, the increasing price is not a result of any market improvements, an exporter told IntraFish.
"Prices are coming up well," the exporter said. "The key lies in the supply. The market has not improved, but the lower quantity of fish in the sea."
Several industry players agreed on the price levels this week. Prices have returned to "normal" against weight classes, with larger fish having a higher price per kilo.
One exception is fish weighing more than six kilograms, which now has the same price as the 5-6 kilogram weight class.
"There is still a lot left of the big fish from this week," an exporter told IntraFish.
The larger fish historically go to Asia, however, due to coronavirus and fewer flights, less fish reaches that market.
The rise in prices may be related to the news of an imminent coronavirus vaccine coming to market, another exporter told IntraFish.
"Even though it is a long time before it has an effect, it contributes positively," the exporter said.
"In addition, prices were, and are, at a low level. In addition, Christmas is approaching, and those who are going to smoke salmon are starting to take positions."
While several exporters report slow sales, one farmer said sales are going well.
IntraFish reports the following prices:
- 3–4 kg: NOK 44 (€4.10/$4.80) – NOK 45 (€4.20/$4.90) per kg
- 4–5 kg: NOK 44 (€4.10/$4.80) – NOK 46 (€4.30/$5.00) per kg
- 5–6 kg: NOK 46 (€4.30/$5.00) – NOK 47 (€4.40/$5.10) per kg
- 6 kg +: NOK 46 (€4.30/$5.00) – NOK 47 (€4.40/$5.10) per kg