Currency-driven price rebound: ‘Buyers have fewer contracts and are therefore more active in the spot market’.
A bounce for salmon prices — after last Friday’s dip.
“Prices have risen a bit this week. The big [farmers] are in control and have the answers. Maybe they’ve cut volumes. I don’t know,” a trader told SalmonBusiness.
“Prices are up by NOK 3–4 ($0.30–$0.40/€0.26–€0.34) — pretty much across the board. What we’re hearing from the south, from the farmers, is: NOK 64 ($6.34/€5.44) for 3–4 kg, NOK 65 ($6.44/€5.53) for 4–5 kg, and NOK 66 ($6.53/€5.61) for 5–6 kg.”
In addition, currency movements have provided a boost.
“The exchange rate has helped us. The euro is at 11.77. It was below 11.50 at the lowest. That makes a bit of a difference too. These are still reasonable prices. We’ll definitely build market with those,” he said.
Uptick
Several other players also reported a NOK 3–4 ($0.30–$0.40/€0.26–€0.34) increase.
“Yes, that’s right. But it depends on what you paid last Friday. Some paid a lot then, so maybe it’s only NOK 2 ($0.20/€0.17) up for them,” said a buyer.
“We’re seeing prices of NOK 62–63 ($6.14–$6.23/€5.27–€5.36) for 3–4 kg, NOK 63–64 ($6.23–$6.33/€5.36–€5.44) for 4–5 kg, and NOK 64–65 ($6.33–$6.43/€5.44–€5.53) for 5–6 kg,” he added.
“But I’m a bit uncertain about the big fish. Some of the large players have a good amount of it. That makes it harder to get the right price. The big ones are going out to Asia with lower prices on large fish. That sets off a price battle there.”
Changing generation
He sees several factors behind the price lift.
“Some players have less fish available. And we’ve come to a generational shift, so there’s not as much pressure on 5+ kg fish. Also, some have started their summer holidays,” he reasoned.
“And we’ve started the second half of the year. Buyers have fewer contracts and are therefore more active in the spot market.”
The price range — in the mid NOK 60s — is confirmed by several other market sources.
“Yes, it’s around there for 3–6 kg. The big fish is a bit higher,” said another trader.
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.