Price rebound in the wake of the Barcelona trade show.
“People hadn’t bought much ahead of the expo, and some of the major players had reduced volumes and taken on large positions. Prices now appear to be settling at NOK 68–70 ($6.60–6.79 / €5.85–6.02), probably closer to NOK 70 ($6.79 / €6.02), to be honest,” a trader told SalmonBusiness.
“But I’m not confident it’ll last into next week. I think it’s a false vacuum that could burst. I’m a bit nervous.”
Balanced
“This week, volumes have been more balanced. You don’t want to be sitting in Barcelona with a lot of volume to sell, and that’s helped prices at least stabilise, even with a weaker euro,” commented an exporter.
“3kg+ in the north is going for NOK 68–69 ($6.60–6.69 / €5.85–5.93), and NOK 70 ($6.79 / €6.02) in the south. There isn’t much big fish right now. It’s a small increase,” he said.
Last Friday, the salmon price to the farmer landed in the mid NOK 60s ($6.21–6.50 / €5.42–5.59).
“I hope it can stabilise around NOK 70 ($6.79 / €6.02). The problem is that customer expectations for autumn are low. Money is expensive at the moment, and we’re reliant on freezing to move volumes. We’ll need to start harvesting small fish soon, since growth is so good. We’re pushing the MTB [maximum allowed biomass],” he noted.
Shortage
“Prices are high for consumers. The retailers haven’t lowered prices — that’s what’s caused the drop in sales. And there’s quite a bit in storage. That stock needs to be used up over the next two or three months.”
Several independent sources confirm a price range of NOK 68–70 ($6.60–6.79 / €5.85–6.02) for the most commonly traded weight classes.
“People are trying to push a price increase after a week of shortage. But the major buyers — especially in air freight — want prices to go down. There will probably still be a price gap, where large fish is cheaper than 3–6 kg. I can’t see it any other way,” said one trader.
“I haven’t bought anything yet, but I’ve heard prices are a bit higher — in the NOK 70–72 ($6.79–6.98 / €6.02–6.19) range,” said another.
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.