Norway Spot Salmon Prices Soar on Cold Weather, Low Harvest Forecast for First Six Months
SEAFOODNEWS.COM by John Sackton January 11, 2016
The Norwegian salmon site Ilaks is reportng record salmon prices of NOK 70 per Kg, not seen since the 1980's, as of this week.
A Norwegian salmon analyst said Friday that the biomass situation is challenging for the next six months, and that cold weather now flooding Norway will reduce sea temperatures, feeding, and growth with a negative impact over the next six weeks.
"We expect that lower seawater temperatures will negatively affect sales volumes of feed and growth for salmon. Thus, the offer situation is even tighter in the first half of 2016," said Nordea analyst Kolbjørn Giskeødegård.
The major Polish processors, which all have supermarket contracts at fixed prices, are among those most affected by this. The fact that they have less fish than they need for their contracts is driving up the price. However, most don't expect that this can continue for too many weeks without a business collapse....
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