After a brutal drop of more than two euros per kilo in two weeks, the price of salmon is set to rise again.
“68/70/72″, writes a fish farmer in an SMS to SalmonBusiness. He’s referring to the prices in NOK for salmon at 3-6 kg. It is almost identical to the message from a trader: “68/70/73. Up 3-4 kroner”.
Measured in euro, this is EUR 6.9/7.1/7.4.
There is no doubt that there will be an increase in the salmon price. None of the five industry sources SalmonBusiness has spoken to after lunch today says anything else.
Last Friday, the most traded weight classes, salmon between three and six kilos, were sold at average farm gate prices between six and seven euros.
“It goes up a couple of kroner, it seems,” says an exporter about the salmon price. “We see these prices (FCA fish farmer) for next week:
- 2-3 kg NOK 60-61 (6.1-6.2)
- 3-4 kg NOK 67-68 (EUR 6.8-6.9)
- 4-5 kg NOK 69-70 (EUR 7.0-7.1)
- 5-6 kg NOK 71-72 (EUR 7.2-7.3)
- 6+ kg NOK 75-78 (EUR 7.6-7.9)
He sees several factors influencing the market:
“Several customers started to freeze a little (fish – ed. note) this week. The currency (euro) is moving towards 9.90 (vs NOK). It has fallen significantly. The currency movement alone is two kroner. So that adds up to a lot. Two kroner up in price is 40-50 cents in the market.
In the cards
“It is a bit slow out in the market. They are not aggressive in their purchases,” he notes.
“We don’t quite believe that it will last. I think it will continue down. It’s in the cards, so we’re taking it pretty easy.”
The salmon exchange Fish Pool is also in with a forward price of NOK 73.25 (EUR 7.4) for the month of August.