'It is a collapse for the ages in salmon prices': Norway salmon farmers' shares dip after fish prices plunge
Salmon prices have fallen NOK 30 since Monday, as wholesale markets cools.
Shares in leading Norwegian salmon farmers dipped during Thursday trading after fish prices plunged by around NOK 30 (€2.65/$2.90) per kilo over the last several days.
At one point, Mowi, the world's largest salmon producer, saw its share price fall back just under 3 percent to NOK181.35 (€16.02/$17.54), however at the time of writing its shares were trading at NOK183.10 (€16.18/$17.71).
Leroy Seafood was down just under 1.5 percent at NOK43.28 (€3.82/$4.18), after slipping to NOK42.64 (€3.77/$4.12) just before 2 p.m. local Norwegian time.
After slipping more than 2 percent to NOK571.60 (€50.47/$55.27), Salmar shares recovered ground to be trading just over 1 percent lower at NOK577.80 (€51.01/$55.86).
Norwegian salmon prices began to slide on Monday.
One exporter said it has been the worst week in more than 20 years.
"It is a collapse for the ages in salmon prices. We stretched the rope too far. The market is not present at the prices we had," the exporter said.
Now fish 3-6 kilos after fetching NOK 78-NOK 90 per kilo (€6.88-€7.94/$7.54-$8.70) in Oslo, the exporter said.
A buyer for another export company confirmed the dramatic drop in prices.
"The prices were at a ridiculously high level. That it is falling now is not unusual at this time of year either," he said.
A third exporter said that the market "is absolutely terrible."
"It is the worst price drop I have ever experienced," he said pointing to numbers NOK 40 per kilo (€3.53/$3.86) lower.
A fourth market source said prices are down by NOK 20-30 (€1.76-2.64/$1.93-$2.89)/kg, depending on size.
"There is a violent, violent fall in prices. They rose a lot and January is usually a bit quiet."
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