Salmon prices recover after last week’s turmoil 

by
Aslak Berge

Large salmon still most in demand.

‘We need to be careful, they want it to go up; they’re aiming for a price hike,’ one exporter tells SalmonBusiness about next week’s salmon prices.

‘Not a major upswing. There was a surge in some sizes, but not all,’ says another. ‘I estimate NOK 85 ($8.10/€7.44) for 3-4 kg, NOK 88-89 ($8.39-8.49/€7.71-7.81) for 4-5 kg, and between NOK 100 and 105 ($9.53-10.01/€8.76-9.20) for 5-6 kg. If you have plenty of 5-6 kg, especially full truckloads, you can command higher prices.’

Stabilization

‘6+ kg is uncertain; I’ve had little of this size, but based on 5-6 kg, I think it will settle at NOK 125-130 ($11.92-12.40/€10.95-11.38),’ the exporter adds.

‘Prices for 3-4 kg and 4-5 kg have risen by NOK 3 from last week’s purchase price. For 5-6 kg, the increase is slightly more. Sales of 4- and 5- kg sizes have been sluggish this week,’ he remarks.

Last week’s pricing panic has eased and stabilized. The prevailing sentiment now is that prices are on the rise.

‘I’ve bought several trucks,’ an exporter notes, quoting the following FOB breeder prices:

3-4 kg NOK 90 ($8.58/€7.89) 4-5 kg NOK 95 ($9.05/€8.32) 5-6 kg NOK 100 ($9.53/€8.76)

However, not everyone is convinced of a price increase.

Chinese New Year

‘We’re aiming for stable prices,’ a trader states. ‘Based on market feedback, the going rates are NOK 83, 87, and 95-96 ($7.91-7.97, $8.30-9.14/€7.27-7.34, €7.66-8.40),’ he says, referencing the most traded weight classes from three to six kilos.

‘There’s an influx of larger fish for Chinese New Year. It’s typical for everyone to stock up. There will be ample supply of large fish, but there’s a market limit. If the price isn’t met, they won’t buy,’ he explains.

Larger salmon remains the most sought-after – and commands the highest prices.

‘The air freight market operates independently. I predict NOK 120 ($11.44/€10.51) in Europe, and higher in the air freight market,’ he adds.

SalmonBusiness gathers weekly spot prices for salmon, set to be delivered the following week. This involves reaching out to various stakeholders in the value chain, including producers, exporters, and importers. We consistently use at least five independent sources, though not all may be published. We rotate our sources and avoid repetition.

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