Small price movements in the most traded weight classes.
After several months of sometimes high volatility and falling spot prices, the buying activity for next week is showing significantly calmer trends.
“I’m hearing there will be a bit more fish next week. There’s certainly no price increase coming. More fish is coming because of algae blooms in the north,” a trader tells SalmonBusiness.
“NOK 69-70 ($6.62–6.72/€5.93–6.02) for 3+ kilo fish. Same price as last Friday,” he says.
A brief spike
“Yes, there was a brief spike earlier in the week — and a bit of optimism. But now it seems to have stabilised,” agrees another source.
“We’re moving sideways, we call it stable. But it’s clear that we have more fish, and others have even more,” says a salmon seller.
“And it’s always hard to know how much fish the big systems are sitting on, but we’re hearing from customers that they have some.”
“This week has been okay, but okay isn’t great. We’re seeing 3-6 kilo fish priced at NOK 71-72 ($6.82–6.91/€6.11–6.19) in the south, but the problem is with the larger fish. We’re hearing that Scotland has a lot of big fish, and the airfreight market isn’t exactly buoyant.
Fish in the 6-7 kg and 7-8 kg ranges are going for NOK 70 ($6.72/€6.02), while 8+ kg fish is down to NOK 68 ($6.53/€5.85). The large fish are a real challenge for processors. They can’t handle them — the machines jam — and if the airfreight market doesn’t buy, those fish fall back in price,” she notes.
Discounted
Others are hoping to buy fish even cheaper.
“We’re struggling with these levels at the moment. It seems like there will be strong supply next week. A lot was sold at NOK 68 ($6.53/€5.85) for 3+ kilo fish this week. A lot would need to happen for us to get a better price,” comments a buyer.
“Large fish are priced lower in many markets. The airfreight market is particularly difficult,” he points out.
However, there are no major price discrepancies between sources this time.
“The large fish are still the problem,” an exporter repeats. “We’re seeing NOK 71 ($6.82/€6.11) for 3-6 kilo fish and NOK 68-69 ($6.53–6.62/€5.85–5.93) for 6+ kilo fish. But we haven’t started making any moves. We’re taking it easy. Every week it’s a knife’s edge whether it goes well or badly,” he says.
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.