Scottish salmon prices stuck at lowest levels for week 32

Scottish salmon spot prices look set to remain stuck at their lowest levels in years, with yet another dip expected on larger sizes next week (week 32 of 2020), two buyers told Undercurrent News.

One buyer of smaller fish, sized 2-4 kilograms, said there was no change in prices for those salmon, keeping them at £3.80 per kilogram.

“We’re expecting prices to hold like this for a few weeks and then go up, but everybody’s guessing, really,” he said.

A second buyer, purchasing larger head-on gutted salmon weighing 3-5kg, said Scottish salmon were down to around £3.70/kg — a £0.40 drop week-on-week.

Citing a recent Undercurrent article, he said, “I think that ISA [infectious salmon anemia] in Norway is starting to bite in”. Norway has already seen higher cases of ISA this year than any since the early 1990s, with several buyer sources suggesting to Undercurrent this has played a part in low spot prices.

“Norwegian fish also seems to have stopped. It makes things a little bit easier, but demand is still poor,” the buyer said.

Only in week 30 did Norway’s exports of fresh salmon to China more than double week-on-week to reach its highest level for the last five weeks, trade data shows. Data for week 31 and 32 is not yet available, however. 

Spot prices for Norwegian farmed salmon fell in week 30 of 2020, according to the NASDAQ Salmon Index. The index had prices dropping by 4% w-o-w, to NOK 46.16 (€4.36)/kg. 

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