Lower harvest volumes, just a month before Christmas, are driving another price increase.
“We’ve sold 2-3 kg at NOK 75.00 ($6.83/€6.53), 3-4 kg at NOK 85.00 ($7.74/€7.40), and 4-5 kg at NOK 90.00 ($8.19/€7.83). We haven’t sold anything in the 5-6 kg range, but it’s natural for it to go at NOK 95.00-100.00 ($8.64-9.10/€8.26-8.70),” a producer told SalmonBusiness.
This marks a clear price increase from last Friday.
Controlling Supply
“Yes, and it’s a two-tiered market. We’re beginning to gain control, recovering from lice-driven slaughter, so we’re choosing to cut back on slaughter and reach the MTB cap. Then there are the jellyfish dictating slaughter volumes elsewhere. We’re also seeing lower average weights and falling export volumes compared to last year,” the producer noted.
“I believe we’ll see a few weeks of lower slaughter than last year. This is simply to reach the MTB cap again. It’s straightforward. I think prices can continue rising from here. Letting the fish grow now is a ‘no-brainer.’”
Seasonal Price Surge
The usual seasonal price upswing before Christmas is now fully underway. Fish Pool’s forward price, delivered to Oslo, currently stands at NOK 84.00 ($7.65/€7.31) for December.
“It’s been a difficult week for 5+ kg. It became too expensive. There’s more and more large fish becoming available, so there’s a lot of 5+ in the market,” a trader said.
The market is defined by limited harvest volumes, he added.
“I don’t see more harvests happening this week.”
“For 2-3, 3-4, and 4-5, things have gone smoothly. Prices need to align more closely. A NOK 20 difference for 6+ isn’t sustainable. The 5+ category is falling slightly, while the others are relatively stable. Maybe there’s a slight increase for 3-4 and 4-5. Prices are leveling out,” the trader explained, adding that not much has been sold yet.
“Producers are holding off. They’re in a strong position with high prices and smaller volumes,” he said, pointing to the following (unconfirmed) prices for next week:
- 3-4 kg: NOK 78.00 ($7.10/€6.78)
- 4-5 kg: NOK 82.00 ($7.46/€7.13)
- 5-6 kg: NOK 87.00-88.00 ($7.92-8.01/€7.57-7.65)
- 6+ kg: NOK 105.00 ($9.56/€9.14)
Another trader cited similar prices.
“Roughly in that range. Maybe a krone higher,” he wrote in an SMS.
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.
