Salmon prices continue to climb

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Buyers and sellers are seeing increased spot prices for next week.

“It’s going up, yes. It has risen slightly from earlier this week, so we were prepared for it,” says a processor’s buyer to SalmonBusiness. “The question is, again, whether we see the beginning of the rise of the winter or not.”

“It’s a wide price spread. We have not bought anything yet. It’s 3-4 kroner (EUR 0.3-0.4) from lowest to highest,” he adds.

Facts

SalmonBusiness collects spot prices for salmon every Friday after lunch. These are fish to be delivered the following week. Here we contact several members of the value chain, including farmers, exporters and importers. We always have at least five independent sources, although not all sources are necessarily displayed on print. We vary which sources we use, and do not use the same sources each time.

“I’ve heard everything from two to five kroner up. When the price rises, exporters try to buy at the earliest opportunity – and the farmers sell as late as possible.”

Five industrial sources SalmonBusiness have talked with today outlines the following prices, to fish farmer, for salmon to be delivered to the market in the coming week:

  • NOK 54 (€5.7) for 3-4 kilograms
  • NOK 55-56 (€5.8-5.9) for 4-5 kilograms
  • NOK 57-58 (€6.0-6.1) for 5-6 kilograms
  • NOK 59-65 (€6.2-6.8) for 6+ kilograms (depending on whether the fish goes to European or overseas customers)

“It’s two to three kroner at 3-4 and 4-5. 5+ is stable. We have bought these prices just now,” says a buyer at a major export company.

The price lift is according to the normal seasonal pattern in the autumn. There seems to be a clear expectation of a further rise in prices among the sources that SalmonBusiness has talked to after lunch on Friday.

“This is where the market is at the moment,” says a trader.