Stability characterizes the salmon market in July this year.
Large fluctuations have not been observed in recent weeks.
“NOK 66 ($6.07/€5.54) for 2-3 kg, NOK 74 ($6.81/€6.22) for 3-4 kg, NOK 76 ($7.00/€6.38) for 4-5 kg, NOK 78 ($7.18/€6.55) for 5-6 kg, and NOK 80 ($7.36/€6.72) for 6+ kg,” an exporter tells SalmonBusiness.
“Stable,” one salmon farmer calls the market. He refers to the following spot prices, divided by weight classes, for fish to be delivered in Southern Norway in the coming week:
- 2-3 kg: NOK 60-62 ($5.52-$5.70/€5.04-€5.21)
- 3-4 kg: NOK 63-65 ($5.80-$5.98/€5.29-€5.46)
- 4-5 kg: NOK 73-75 ($6.72-$6.90/€6.13-€6.30)
- 5-6 kg: NOK 77-78 ($7.08-$7.17/€6.47-€6.55)
- 6+ kg: NOK 86 ($7.91/€7.22)
The picture of salmon prices moving sideways for the fifth week in a row is recognizable from a major exporter.
Currency
“Absolutely. That sounds pretty good. Stable to slightly up is just fine. We can live well with that. I have quoted NOK 74, 75, and 76 ($6.81, $6.90, and $7.00/€6.22, €6.30, and €6.38) in the north for 3-6 kg. It might be a bit low for 5-6 kg,” he admits.
“It’s a good volume but a somewhat sluggish market. Stability is probably a necessity, with a little help from the currency.”
He is pleased that the salmon price has remained remarkably stable for quite some time this summer.
“Yes, that’s perfectly fine. That’s exactly what we need. For us, yo-yo pricing is a killer. We’ve had too many hits this year,” he says. “Then we can plan a bit more than three days ahead. We have plenty of fish. We need stable prices. It’s absolutely necessary for us.”
Improvement
While Fish Pool’s forward price for July currently stands at NOK 77.15 ($7.10/€6.48), the August contract climbs to NOK 80.85 ($7.44/€6.79).
However, a major farmer sees a rather significant increase in the spot price for next week.
“Prices have improved considerably throughout the week, and we have the following prices in Oslo for next week’s harvest,” he says, before listing:
- 2-3 kg: NOK 74 ($6.81/€6.22)
- 3-4 kg: NOK 81 ($7.45/€6.80)
- 4-5 kg: NOK 83 ($7.64/€6.96)
- 5-6 kg: NOK 85 ($7.82/€7.13)
- 6+ kg: NOK 88 ($8.09/€7.39)
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.
