Christmas orders on the way: prices up sharply

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Smokehouses up orders
“It’s been a week where the supply has been good bit lower than in earlier weeks, and prices have risen the whole time. And, that means that prices for next week have come to around USD6.14 (a kilogram). There’s great excitement about whether the market will accept it,” said an exporter of laks to Europe.

“The volume supply isn’t that much greater for next week that it’s been this week,” he added.

Noticeable uptick
That means the following (USD from Norwegian kroner) price levels for the market sources SalmonBusiness spoke to after lunch on Friday:

2 kg to 3 kg, $5.65 to $5.90
3 kg to 4 kg, $6.14 to $6.39
4 kg to 5 kg, $6.27 to $6.51
5-plus kg, $6.39 to $6.63

“So, there’s a noticeable uptick. We’ve trade a bit on that level, but it’s still early in the day.”

The processing industry in Europe is a central driver behind the lift in prices.

“How much is it? Five to seven kroner higher? Fish farmers are smiling today, for sure,” said an industry buyer. “For our part, there are some Christmas orders coming in. The need is rising,” he said, explaining that he’s done some trade the above price level but that he wasn’t done.

Late but good?
The promise of a juicy spike in prices has been twisted up and shared by all the sources SalmonBusiness has talked to.

“(USD6.14) for fish farmers in (Northern Norway). The same price for all fish, 3-plus (kg),” a trader said. “It was as expected. They cut the quantity sharply this week, here. There’s a lot less fish,” he explained.

The big question now is whether the autumn’s long hoped-for price rise has finally started, or whether it’s just been a gust of wind.

Lots of big fish
“I think more fish is on its way next week. I’m not comfortable with the price. We haven’t gone without fish. I think the increase (in supply) is stronger (this week) than what this week here would suggest was available,” an exporter said.

“And if we get a deal on a lot of 5-kg (fish). That’s what people have now,” he added.