Norwegian salmon exchange to start trading Friday

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The rumours began during the Brussels Expo last week, where it was learned that start-up Laksebørsen.no would soon hatch their plan.

The Aalesund-based company wants to make the trade in salmon more effective, and as soon as this Friday, its new salmon exchange will become Norway’s new meeting place for fish-farmers and exporters.

The idea of a salmon exchange where buyers and sellers meet, bid-on and trade their products isn’t new. But while many have aired similar ideas, only now has a step been taken, and Laksebørsen has settled on a location in downtown Aalsund.

Risk
“The background for this investment is that since aquaculture’s beginnings, salmon and trout have been sold by telephone and email and then via risky contracts. This has resulted in many salmon-farmers have missed out on the highest obtainable sales prices, just as many exporters have not filled their sales potential in many of the world’s fish markets due to a lack of raw material. Today’s salmon prices are high and price swings can be great, almost day-to-day,” company founder, Kristian F. Almaas, told SalmonBusiness on Monday.

“This makes it difficult for players in the sector to arrive at a “correct” price. It is difficult for media and other observers to determine a price level under these circumstances. Access to documenting a transparent and secure price level are one of the great values of Laksebørsen. Here, the actual prices are documented on every trade and all agreements between the parties are binding.”

Real prices
Almaas, with his background as a buyer and seller with Ocean Supreme and Icemar, has brought Rune Bjorge into the start-up. His brings experience in the industry as commercial and accounting lead with Aalesund whitefish company, Andreas Bjorge Seafood.

Rune Bjorge

Laksebørsen wants to create a place to trade, a spot market where players can stick to real prices and quantities for salmon farmers and exporters. The platform makes it possible to approve their bidders, something that allows sellers to reveal their wares anonymously and at the same time know that each buyer is a trustworthy partner. This unique solution will make the platform open for both the spot market or as a safe environment for price negotiations, as per today,” Almaas said.

Access
Only Norwegian industrial players, both fish farmers and exporters, will have access to the portal that’ll launch on Friday. Until the launch, Norwegian companies can register as users, but no trades will be possible before 8 a.m. Friday, May 4th.