But sal­mon prices tum­ble in Fe­bru­ary

Fish Farmer - - News European -

SAL­MON spot prices in Nor­way tum­bled fur­ther ear­lier this month as China faced al­most to­tal shut­down on the back of the coro­n­avirus out­break.

The av­er­age price re­duc­tion in Nor­way is around 10 kro­ner per kilo for most size sal­mon, with fur­ther re­duc­tions ex­pected in the weeks ahead.

Five to six kilo fresh sal­mon was hov­er­ing at around NOK 63

– or pre-Christ­mas lev­els. Large vol­umes of un­sold fish are now stuck in global mar­kets.

The virus, which is con­tin­u­ing to spread through­out China and had led to more than 600 deaths at the time of go­ing to press, is play­ing havoc with com­mod­ity mar­kets be­cause the world’s most pop­u­lous coun­try is no longer buy­ing on a large scale.

Even more wor­ry­ing for the in­dus­try are the pre­dic­tions that it could take months be­fore the cri­sis ends. Many flights from Europe car­ry­ing seafood into China have been can­celled, while Nor­we­gian crab ex­ports to China have also come to a halt.

But ac­cord­ing to re­ports from Nor­way, coro­n­avirus is not the only rea­son sal­mon prices have done an about-turn.

Bad weather has hit road trans­port car­ry­ing con­sign­ments from fish farms to air­ports. And fol­low­ing the sur­prise surge at the be­gin­ning of the year, when large fresh sal­mon al­most touched NOK 80 per kilo, many an­a­lysts thought prices were ar­ti­fi­cially far too high.

A cor­rec­tion has been ex­pected and it is now a ques­tion as to how much fur­ther they are likely to fall.

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