But salmon prices for the coming week are showing only small movements.
“It’s around NOK 50.00 ($4.85/€4.25) in Oslo. Both 4–5 kg and 5–6 kg are at the same price. The 2–3 kg category is going for NOK 43.00–44.00 ($4.17–$4.27/€3.66–€3.74). And the 3–4 kg fish is at NOK 46.00–47.00 ($4.46–$4.56/€3.91–€4.00),” a trader told SalmonBusiness.
Freight costs by truck to Oslo typically vary from NOK 1.00 to 2.00 ($0.10–$0.19/€0.09–€0.17) per kilo, depending on the processing plant location along the coast.
“It looks like prices are holding. They were just as low earlier this week, even though prices have been extremely low recently. It’s complicated. There are some large price differences depending on whether the fish can go by air freight or not,” he said.
US Tariffs
He doesn’t expect any significant price increase in the short term.
“It’s impossible for prices to turn around right now, since we’re feeding so much. We’re going to be in this situation for a couple of months. And now the tariffs on the US have kicked in. I don’t think it’ll have a negative impact right now, because prices are already much lower than before, and the supermarket chains are sitting on enormous margins.”
He also emphasized that not all the fish currently being sold is being eaten.
“We’re completely dependent on freezing—both us and the market. You need capital to hold frozen stock for six months. We’re going to freeze some fish, but not large volumes.”
“The volume being presented for sale is just unbelievable. Still a tough week. I honestly don’t think I’ve ever seen more fish for sale than right now,” said one buyer.
“The price level set last week was too high—it dropped immediately. There’s been fish traded well down in the 40s. And now we have to factor in the summer holidays and the heat starting in Europe, and that means more fish will be frozen.”
So far, he doesn’t see any major price movements.
Currency impact
“NOK 50.00, 51.00, and 52.00 ($4.85–$5.04/€4.25–€4.42),” said one exporter, referring to the most commonly traded weight classes, 3–6 kg.
That marks a slight uptick.
“It’s a price adjustment—but there shouldn’t be one, considering the exchange rate,” he added.
Meanwhile, the August contract on the Fish Pool is at EUR 5,400 per tonne, delivered Oslo, which equates to NOK 63.80 ($6.19/€5.42).
