Has the bottom been reached for salmon spot prices?
There was a slight increase last week in the spot price of market-dominating Norwegian salmon. Is this a sign that the bottom has been reached for this time, or is it just a short breather? Volumes were again a record high for the season.
The spot price of Norwegian salmon rose by NOK 2.63 (£0.19) per kilo in week 32, up to NOK 55.05 per kilo.
This is a price that is NOK 17.96/kg below the same week last year.
The average spot price for salmon so far this year is NOK 78.34/kg compared to NOK 103.90/kg at the same time last year.
Export
Norway, the world's biggest salmon producer, exported 35,957 tonnes of fish (round weight) in week 32. This is approximately 350 tonnes more than the week before, and thus a new record for an August week.
It is also 23.1% more than the same week last year.
So far, 908,000 tonnes have been exported, 22% more than at the same time in 2024.
Feed
As of week 31, 1.2 million tonnes of feed have been sold, 13% more than at the same time a year ago. The volume of feed sold is an indicator of how many fish are in the salmon pens, and thus how volume may affect prices in the future.
The trend for the last four weeks (weeks 28-31) is 7% lower feed sales than the same period last year.
