Limited price movement heading into next week.
“Prices are going up slightly. Not by much. It’s clear that the weather has been bad this week, with some cancellations in Northern Norway. There’s nothing coming from Iceland, as they’ve had a hurricane all week. That has led to some shortages at the end of the week,” an exporter told SalmonBusiness at lunchtime on Friday.
He reports the following prices to farmers for the coming week:
- 2-3 kg: NOK 78 ($6.94/€6.71)
- 3-4 kg: NOK 82 ($7.30/€7.05)
- 4-5 kg: NOK 85 ($7.57/€7.31)
- 5-6 kg: NOK 90 ($8.01/€7.74)
- 6+ kg: NOK 98-100 ($8.72-$8.90/€8.43-€8.60)
“That’s where prices stand. Right now, there’s not a lot of fish available. The past six weeks have been incredibly unstable. Exporters have lost a lot of money. But you can’t control the weather.”
No Major Shifts
So far, no significant price movements are being observed.
“I haven’t heard of prices going strongly in either direction,” another exporter said. “I know some processors ramped up operations to pack more fish because of the bad weather in the north, but it doesn’t seem to have made much of an impact.”
A second exporter was even more direct:
“Prices for 5+ kg fish are not rising. There will be a lot of 5+ kg fish available next week, especially in the north,” he said, citing the following price levels:
- 2-3 kg: NOK 77-78 ($6.85-$6.94/€6.62-€6.71)
- 3-4 kg: NOK 82 ($7.30/€7.05)
- 4-5 kg: NOK 85 ($7.57/€7.31)
- 5-6 kg: NOK 90 ($8.01/€7.74)
- 6+ kg: NOK 92-93 ($8.19-$8.28/€7.91-€7.99)
“A lot of people have lost money on the larger fish. The price increase has nothing to do with demand. It’s purely because of the storm at the end of this week—it disrupted supply, delaying or canceling shipments.”
Transport Disruptions
He pointed out that the E6 highway had been closed at times.
“Yesterday, almost all ferry crossings in the north were shut down. The weather has been terrible—no doubt about it. And we’ll feel the impact next week,” he said, predicting another price drop.
“The whole week has been tough, with prices lower than last Friday’s purchase prices. Then came the storm yesterday,” a trader added.
“I think most people are wondering: Has the market abroad changed just because it’s been windy in Norway?”
“The answer is no. There’s been no sign of a price surge yet. Most buyers have been uneasy, keeping prices at the same level as last Friday, since both the exchange rate and spot prices have been lower throughout the week.”
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.
