The seasonal price increase for salmon has now kicked off.
“There’s the biggest rise in prices for smaller fish, those under five kilos,” a buyer tells SalmonBusiness. He points to the following prices, to be paid to farmers for salmon to be delivered next week:
- 2-3 kg: NOK 52 ($4.84/€4.42)
- 3-4 kg: NOK 68-69 ($6.32-6.41/€5.78-5.87)
- 4-5 kg: NOK 70-71 ($6.51-6.60/€5.95-6.04)
- 5-6 kg: NOK 73 ($6.79/€6.21)
- 6+ kg: NOK 78-80 ($7.25-7.44/€6.63-6.80)
“But 5+ has been under pressure this week. There’s more large fish coming. You no longer get that price difference between weight classes,” he notes.
Stockpiling
“Let’s hope it goes well. There has been a good rise in the last two weeks. Now the question is whether customers are willing to keep stockpiling. Are they done stockpiling? We don’t know. I hope there’s a bit less fish next week. I doubt it, but I’m hopeful,” he says.
The price level has been confirmed by multiple sources.
“We’ve heard a rise of at least NOK 3 ($0.28/€0.26). NOK 70-71 ($6.51-6.60/€5.95-6.04) for 4-5 kg,” says a trader. “The question is, what’s driving this? Is there suddenly too little fish? Does the fresh market have less supply? It’s clear we’re not going to see the same massive slaughtering in the near future because they’ve got more control over lice.”
Export volumes have come down slightly after several consecutive weeks of record highs, according to data from the Norwegian Seafood Council.
“We’ve been buying at NOK 68, 70, and 73 ($6.32, $6.51, and $6.79/€5.78, €5.95, and €6.21). For 2-3 kg, it’s in the mid-50s,” comments an exporter.
“There’s a bit more fish moving, and we’re also seeing more large fish. 6+ isn’t going up, it’s going down. The problem this week has been 5-6. If prices are hyped up any more today, the market will give up,” he warns.
Jump
Others are seeing even higher prices:
“NOK 12-13 ($1.12-1.21/€1.02-1.11) up on 2-3 kg and NOK 7-8 ($0.65-0.74/€0.60-0.68) up on 3+ next week,” says a mid-Norwegian farmer.
He lists the following prices, delivered to Oslo, for next week:
- 2-3 kg: NOK 54 ($5.02/€4.59)
- 3-4 kg: NOK 74 ($6.88/€6.29)
- 4-5 kg: NOK 78 ($7.25/€6.63)
- 5-6 kg: NOK 83 ($7.72/€7.06)
- 6+ kg: NOK 103 ($9.60/€8.76)
SalmonBusiness gathers spot prices for salmon every Friday after lunch, tracking fish to be delivered the following week. This process involves contacting multiple entities in the value chain, including farmers, exporters, and importers. At least five independent sources are consulted, though they may not always be publicly disclosed.
