Record salmon prices expected to hold until next week

Aslak Berge

The peak in salmon prices continues.

On Thursday, Norwegian aquaculture news site iLaks reported the highest salmon prices ever. As of lunchtime on Friday, it appears that prices are yet to drop significantly.

“The situation is fairly stable. Yesterday, we bought at NOK 129 ($12.00/€11.10) for 3-4 kg, NOK 133 ($12.37/€11.44) for 4-5 kg, and NOK 135 ($12.54/€11.61) for 5-6 kg. This week, we paid NOK 140 ($13.02/€12.04) for 6+ kg, but you don’t get more for it than for 5-6 kg,” one exporter told SalmonBusiness.

“It’s obvious… there’s a shortage of fish, especially the superior quality, which is driving the prices. They will remain high for quite some time,” he predicts.

Cold Seas

“Not many customers are buying at these prices, but those who really need fish have to pay. I don’t foresee any dramatic price drops soon. Sea temperatures are lower, leading to slower growth. It’s particularly cold in the north. And this means that the winter wounds won’t heal until the very end of May,” he says.

“Prices won’t drop, they say. The 3-6 kg range might see a slight increase, maybe 2-3 more kroner. It’s hard to push the price for the largest sizes,” says another exporter.

He also thinks that prices will stay high throughout the spring.

“They’ll stay at this level – until new fish come in.”

Limited Supply

The price level is confirmed by a trader:

3-4 kg for NOK 130 ($12.09/€11.18)

4-5 kg for NOK 133 ($12.37/€11.44)

5-6 kg for NOK 136 ($12.65/€11.70)

Others are seeing even higher prices.

“NOK 135 ($12.55/€11.61), 140 ($13.02/€12.04), and 145 ($13.49/€12.47) for 3-6 kg.

That’s what they’re aiming to get here in Europe,” says one producer.”But then you don’t get more for 6+ kg than for 5-6 kg. It probably indicates that we have very little to sell in the spot market. Unfortunately, a bit of ‘prodfish’,” he admits.

“Prodfish,” or production fish, refers to fish sold at a discount due to wounds or injuries.

Not all farmers are getting such high prices for their top-class salmon.

“No, not yet, but maybe soon. I’m hearing slightly lower prices. Haven’t sold anything yet,” says one.

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.


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