Prices rebound after two weeks of steep decline
The market is tightening after several consecutive weeks of record-high export volumes for the season.
“There’s a bit more stability this week. Yesterday was a public holiday, so there’s been slightly less harvesting. Prices are a bit more stable. I think they’ve gone up a couple of kroner,” a buyer told SalmonBusiness.
A week ago, spot prices for the most traded weight categories were scraping down toward NOK 60.00 ($5.88/€5.22)—the lowest level recorded this year.
“There’s a bit more balance in the market now. The 3–6 kg fish are going for NOK 62–63 ($6.08–6.17/€5.39–5.48). The 6+ kg fish… there’s not a huge difference. There’s more pressure on the 2–3 kg range since there’s a lot of small fish being harvested. I’m hearing NOK 55.00 ($5.39/€4.79) for 2–3 kg. The 7+ might even be lower than 6–7.”
“Is that essentially a 3+ price?”
“Yes, basically. That’s pretty much been the case this week too. We expect the same price for 3+.”
Heavy volumes
He noted that export statistics have shown salmon sales exceeding 30,000 tonnes over the past two weeks. That amounts to nearly 10,000 tonnes—or roughly 50 percent—more than the same weeks last year.
“That shows there’s a lot of fish going out.”
Several sources confirmed the above-mentioned price range.
“Yes, that’s about right. The big integrated players have large volumes and are steering the market,” said a trader. “Up NOK 2–3,” he quickly added.
“Yes,” agreed another. “2–3 kg at NOK 55.00 ($5.39/€4.79), 3–6 kg at NOK 62–63 ($6.08–6.17/€5.39–5.48), and 6+ kg at NOK 59–60 ($5.78–5.88/€5.13–5.22),” he told SalmonBusiness.
“Prices are up,” said a farmer. “We haven’t actually sold anything yet, but our customers are being offered NOK 68–69 ($6.66–6.76/€5.92–6.00) [adjusted to slaughterhouse, FOB price]. But there are also prices in the mid-60s. Many say it’s a bit tight now because of fewer slaughter days, but we’re heading into a full week before another four-day week.”
“There’s definitely an upward trend,” he emphasised.
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.