Reduced freezing and stronger competition are shaping price formation.
“This week it fell throughout the week. We’ve been selling at a loss from day one. Now the price is down by NOK 5–6 ($0.50–0.60/€0.43–0.52). Maybe more on 5+,” an exporter told SalmonBusiness.
“We can buy in the south at:
NOK 60 ($6.00/€5.16) for 2–3 kg
NOK 65 ($6.50/€5.59) for 3–4 kg
NOK 66–67 ($6.60–6.70/€5.68–5.76) for 4–5 kg
NOK 68 ($6.80/€5.85) for 5–6 kg
NOK 72–73 ($7.20–7.30/€6.19–6.27) for 6+ kg
Trend
“6+ lives a different life if you can get it on a plane. In Europe you won’t get that price. The US has pulled back a bit. There’s a lot of cheap fish from Chile in the US market. There will be a bit more fish in the coming weeks,” he said, adding that Trump’s new tariff regime dampens purchasing volumes, raises retail prices and makes salmon more expensive for the end customer.
“Consumers are paying the tariff,” he said.
He also sees the same trend as last year, when slaughter volumes increased into October and the price fell back.
“It’s difficult to navigate. People are not freezing at these prices. It’s too expensive to put into storage. The fish that is sold has to be eaten.”
“And then there’s been Golden Week in China and Korea. They’re opening again next week, but they probably won’t have money to buy since they’ve spent it all on the festival,” he added with a laugh.
He also noted that Chile, which currently has a lot of fish to harvest, is sending both frozen containers and air cargo (with fresh salmon) to the Chinese market.
Residual fish
A trader recognised the price level between NOK 65 and 68 ($6.50–6.80/€5.59–5.85) for fish between three and six kilos.
“Yes, the price is around there. That’s the level we keep seeing. There’s a lot of residual fish in Oslo,” he said.
“NOK 65, 66 and 67 ($6.50, $6.60, $6.70/€5.59, €5.68, €5.76),” another trader said. “6+ is the worst. You’ll need a 5+ price next week. A lot from other countries — plus one of the big [farmers] has a lot, a lot, a lot of large fish at giveaway prices.”
A farmer confirmed the price drop but saw somewhat higher prices FOB from facilities in the north:
NOK 71 ($7.10/€6.11) for 3–4 kg
NOK 72–73 ($7.20–7.30/€6.19–6.27) for 4–5 kg
NOK 74 ($7.40/€6.36) for 5–6 kg
“If you had called three hours ago, I would have been in the 60s on at least two of them.”
He confirmed that there is a lot of cheap Chilean salmon going to the markets in the US and China, putting pressure on prices.
“That’s the main reason. They have a lot of biomass. There’s a lot of pressure from Chile these days.”
