The year’s lowest prices are attracting many buyers.
“We’ve started to buy small quantities from producers in the north, and it seems to be moving in a slightly positive direction,” one exporter told SalmonBusiness.
“We bought from a producer: NOK 45 ($4.23/€3.83) for 2-3 kg, NOK 64 ($6.02/€5.44) for 3-4 kg, NOK 66 ($6.20/€5.61) for 4-5 kg, NOK 69 ($6.49/€5.87) for 5-6 kg, and NOK 82 ($7.71/€6.97) for 6+ kg.”
The next source echoed this.
“It’s quite stable. Maybe a slight increase, one to two kroner, for 2-3 kg and 3-4 kg, driven by currency effects. Prices are NOK 44-45 ($4.13-4.23/€3.74-3.83) for 2-3 kg, NOK 63 ($5.92/€5.36) for 3-4 kg, NOK 65 ($6.11/€5.53) for 4-5 kg, NOK 67 ($6.29/€5.70) for 5-6 kg, and NOK 82 ($7.71/€6.97) for 6+ kg for producers in the north. It’s a bit up compared to this week.”
The bottom
“Now the fish are growing. The prices are evening out between weight classes. I think the bottom has been reached this week,” he said about the price situation.
“What’s saving us is that customers are freezing fish for production in the first quarter. The fish isn’t being eaten now. What we’re hearing from customers is that it’s going straight into frozen storage. In the first quarter, they know the price will be higher. That’s just natural,” he noted.
He’s aware of the enormous export volumes. Last week, a record 39,952 tonnes of salmon were exported from Norway, and the milestone of one million tonnes in total was passed early this week.
“These are massive quantities. I’m impressed by that. It’s the freezing that’s saving us,” he said, adding, “But it’s been fine this week.”
More large fish
There are no significant deviations in the prices reported by both producers and exporters.
“3-5 kg is coming up, 6+ kg is coming down because there’s more large fish next week,” said one buyer.
“So I’d guess the same: 3-4 kg at NOK 63-64 ($5.92-6.02/€5.36-5.44), 4-5 kg at NOK 65-66 ($6.11-6.20/€5.53-5.61), and 5-6 kg at NOK 67-68 ($6.29-6.39/€5.70-5.78). And I think we might see a 6-7 kg price and a 7+ kg price. At least, 6-7 kg will be under NOK 80 ($7.52/€6.80). Without a doubt. There’s a lot of that size,” he pointed out.
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.
