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Norwegian salmon set for price cuts as market stocks are high

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The Norwegian salmon market is facing a downward trend in prices. Market sources indicate that prices are down by 2-3 kroner (approx. 0.17-0.25 euros) per kilogram from last week, although no clear deals have been confirmed as of the evening of the 20th. The change is closely linked to the increased availability of fish on the market.

 

The hot weather has forced farming companies to speed up the harvesting and processing of large fish. While the high temperatures have helped the salmon to grow quickly, they have also accelerated the reproduction of sea lice, increasing the cost of lice clearance. According to exporters, the supply of large fish over five kilograms is now extremely limited in the market, and farmers tend to price smaller fish higher in order to boost returns.

 

On the transport front, Norwegian salmon exports reached an unusually high level of 28,000 tons last week. However, smaller players are facing some difficulties in transportation, especially in the spot market, despite relatively smooth transportation for larger players.

 

According to the market, the latest prices for Norwegian salmon origin are as follows:

 

  - 3-4 kg: 64-66 kroner (approx. €5.44-5.61)

 

  - 4-5 kilograms: 66-68 kroner (about 5.61-5.78 euros)

 

  - 5-6 kg: 72-76 kroner (approx. 6.12-6.83 euros)

 

In the Chinese market, the wholesale price of chilled salmon generally dropped after the holiday, down by anywhere from 7-22 yuan per kilogram.On September 20, the wholesale price of chilled salmon in Beijing was:

 

  - 7-8 kg Faroe Crown quoted at 106 yuan per kilogram

 

  - 6-7kg Norwegian 2284 quoted at 96 yuan/kg

 

The situation in Shanghai and Guangzhou markets was similar, with varying degrees of price reductions. Inventories were mainly focused on small-size fish, and the overall market took stock on demand and no longer hoarded.

 

In addition, weather and flight factors also had an impact on the market. In particular, the arrival of some international shipments was delayed due to a staff strike at Barcelona airport, but this did not have a significant impact as the Chinese market was well supplied with spot.


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