General tight supply situation for both salmon and salmon meal. Normally in the period Jan-April we have a seasonally low production. For this reason we buffer up the storage prior to this season.
-Chile has had a lot of problems with mortality in Salmon (mainly caused by algae outbreak). This has two effects: Less chilean salmon meal on the market (i.e. Higher demand for Norwegian salmon Oil/Meal). And very high prices for Norwegian salmon.
-Last autumn there were also period with high prices for salmon, which gave a high salmon production (slaughtering). But this also reduced the available fish in the sea (biomass volume). So, depending on who you are talking to, people claim there is lower amounts of salmon in the sea. It seems the consensus is about 4 % less biomass (salmonoids) in the sea now, compared to the same period last year. And, much of the fish in the sea is still too small for slaughtering.
The growth period for salmon is 18-24 months, so it takes some time for the market to adjust.