Lower supply drives farmed salmon prices up after devastating decline

Prices are up about 25% compared to the week prior.

Several salmon farmers reported rising spot prices due to lower supply to the market, after a few weeks of devastating low prices.

"We have had a steady rise throughout the week, as expected," one farmer told IntraFish.

"Especially some of the smaller fish farmers are waiting to harvest, which means that the exporters call around and try to buy fish."

The farmer reported fish sold for NOK 50 (€4.85/$5.88) per kilogram, up 25 percent compared to the week prior.

One exporter is skeptical of a sharp increase in prices, expecting something between the NOK 42 (€4.07/$4.94) and NOK 50 (€4.85/$5.88) mark.

"We are in a time of year that there will not be much increase in harvests before prices fall again," the exporter said.

Another European farmer confirmed the price increase saying "some of the large farmers have reduced harvest."

"The market is still not brisk, but if there is less supply, prices will still rise," the farmer added.

The farmer pointed out that despite the price increase, they are still considered relatively low compared to the year prior.

On Friday afternoon, the following prices and price expectations will be announced: