Prices rise as traders expect this year’s low is now behind us

News
283

After falling five weeks in a row, salmon spot prices rise again.

“There is a little uptick at 3-4 and 4-5 in particular. 6+ is stable. It was 70 kroner (€7.3) last Friday, and it’s not easy to sell. Some air cargo markets have gone well, but not all,” a fish trader said to SalmonBusiness.

“70 kroner (€7.3) is for China-approved processors, while the other 6+ is perhaps 65 kroner (€6.9). So that’s very big difference, he pointed out.

Facts

SalmonBusiness collects spot prices for salmon every Friday after lunch. These are fish to be delivered the following week. Here we contact several members of the value chain, including farmers, exporters and importers. We always have at least five independent sources, although not all sources are necessarily displayed on print. We vary which sources we use, and do not use the same sources each time.

Close to the bottom
“It’s a few kroner up, but it’s still not settled.”

Did we see the price bottom this week?

“It may be. I do not rule that out. It may have been the bottom this week. We have the same thoughts, but I’m not sure.”

Rise
“I heard earlier today stable prices, but this probably indicates one to two kroners up,” said a smoker’s buyer.

“Is this the beginning of the seasonal recovery?” he asked rhetorically before he answered: “It is depending on what comes out from Chile throughout the autumn.”

SalmonBusiness’ industrial sources refer to the following farm gate (Norway) prices for salmon to be delivered next week.

  • 3-4 kilos 53-54 kroner (€5.6-5.7)
  • 4-5 kilos 54-56 kroner (€5.7-5.9)
  • 5-6 kilos 56-59 kroner (€5.9-6.2)
  • 6+ kilo 65-70 kroner (€6.9-7.4), depending on China approval or not

More volume
“I also hear those prices. And it’s most likely too high,” said an exporter to SalmonBusiness.

“The prices are not going to last next week. There will be an increase in volume, and then they will fall back,” he added.