Salmon prices are moving sideways.
“It’s been sold at a loss all week. Another week of losses for exporters,” an exporter told SalmonBusiness in frustration.
“The prices… well, they’re certainly not going up. At best, they’re stable for 1-5 kg, with a slight decline for 5+ kg. Prices need to be more even; the gap can’t be so large. At the same time, we mustn’t forget that it’s winter break both in Norway and across Europe. Demand will likely be a bit quieter next week.”
Improved Biological Conditions
“It’s a decent price, between NOK 80 and 90 ($7.20–$8.10/€6.88–€7.74). There’s less ‘prodfish,’” he said, referring to the following prices, paid to farmers, for next week:
- 2-3 kg: NOK 76 ($6.84/€6.54)
- 3-4 kg: NOK 82 ($7.38/€7.05)
- 4-5 kg: NOK 85 ($7.65/€7.31)
- 5-6 kg: NOK 88 ($7.92/€7.57)
- 6+ kg: NOK 95 ($8.55/€8.17)
“It’s basically the same price as last week. It’s quite stable. There’s better growth at sea, better biology, and less ‘prod.’ More fish, really. It feels like a completely different ballgame compared to last year,” he said.
“And there are quite large frozen inventories out there. The buyers are much better prepared, and there are far fewer contracts compared to last year. We know that contracts help stabilize prices,” he emphasized.
Sideways Movement
A snapshot of prices holding steady at last Friday’s levels is being repeated by multiple sources.
“It’s in that range. It’s still a bit up in the air. It’s a little early,” said a trader.
“The market isn’t going to move up. That’s unthinkable. But I haven’t bought a single kilo yet,” said another.
He pointed out that prices remain stable at the levels seen by farmers last Friday, which effectively means an increase in the market, as prices have fallen throughout the week.
More Large Fish
“Stable for 2-5 kg, and I think 5+ kg will drop. There’s a hell of a lot of big fish coming. I think 5+ kg, especially 6+ kg, will take a beating,” said a buyer.
He pointed to these prices for the upcoming week:
- 2-3 kg: NOK 75 ($6.75/€6.45)
- 3-4 kg: NOK 81–82 ($7.29–$7.38/€6.97–€7.05)
- 4-5 kg: NOK 84–85 ($7.56–$7.65/€7.22–€7.31)
- 5-6 kg: NOK 88 ($7.92/€7.57)
- 6+ kg: NOK 90–92 ($8.10–$8.28/€7.74–€7.92)
A significant price increase does not appear to be on the horizon. The March contract at Fish Pool is at €7,700 per tonne, equivalent to NOK 89.70 ($8.07/€7.71) per kilo. The Fish Pool price is delivered to Oslo and includes NOK 1–2 ($0.09–$0.18/€0.086–€0.17) per kilo in transport costs from Norway’s salmon packing plants.
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.
