Salmon prices creep up: “Biology is significantly better this year than last year”
“This week has gone well. There has been a balance between supply and demand. Exporters have made it through the week without losing money,” an exporter tells SalmonBusiness at lunchtime on Friday.
“Some are talking about a couple of NOK more for 2-5 kg. 5+ kg is stable. There is a lot of large fish available. The gap between weight categories is closing.”
Smaller differences
He then lists the following prices, to farmers, for the upcoming week:
- 2-3 kg: NOK 78 ($7.02/€6.71)
- 3-4 kg: NOK 84-85 ($7.56-7.65/€7.22-7.31)
- 4-5 kg: NOK 87-88 ($7.83-7.92/€7.48-7.57)
- 5-6 kg: NOK 90-92 ($8.10-8.28/€7.74-7.92)
- 6+ kg: NOK 95 ($8.55/€8.17)
“You don’t get more than a couple of NOK in difference between sizes. And that’s normal. It’s likely that slightly less has been harvested this week.”
He has taken note of the biomass increase, which SalmonBusiness reported on Thursday. The report showed that the standing salmon biomass at the end of January was 894,551 tonnes, compared to 824,030 tonnes in the same month in 2024. This represents an increase of 8.6% year-on-year.
“Biology is significantly better this year than last year. Growth in the sea is fantastic,” he says.
Increased biomass
A farmer confirms the picture of rising salmon prices for the coming week.
“These are impressive prices, considering a 30% increase in feed sales and increased biomass. There’s no problem with demand, but there could be a lot of supply,” he admits.
“It has been a week where it was possible to make a contribution back. The way it should be. But there was increasing pressure towards the end of the week,” says an exporter.
He also sees rising prices.
Few contracts
“It’s one to two NOK up, but it’s incredible that prices aren’t higher. People have been cautious with contract agreements, there’s more spot fish in the market, and that has contributed to the imbalance we’ve seen in the first two months.”
“We’re not seeing more than a one-NOK increase,” says another buyer. “We’ve gone out with stable prices compared to last week.”
He then lists the following prices to farmers:
- 3-4 kg: NOK 83 ($7.47/€7.14)
- 4-5 kg: NOK 85 ($7.65/€7.31)
- 5-6 kg: NOK 89 ($8.01/€7.67)
- 6+ kg: NOK 93 ($8.37/€8.00)
“This week hasn’t gone exactly as expected, and there’s still quite a bit of fish left at the end. The risk for next week feels greater than for this week,” he believes.
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.
