Expecting a salmon spot price of NOK 90 per kilo next week
Analyst Sander Lie reports that prices have risen this week and will go up again.
Published
In a recent update, Lie - an analyst for Nordic corporate bank SEB - writes that the bank now expects a spot price of around NOK 90 er kilo next week, equivalent to €7.7 / £6.73 per kilo. This is NOK 5 higher than the levels SEB estimates for the current week, reports Fish Farming Expert's Norwegian sister site, Kyst.no.
According to Lie, SEB sees good momentum in the market, and early signals indicate that prices will continue to rise towards Christmas.
The increase is explained primarily by lower available volumes and a seasonal increase in demand as the holiday season approaches, he said.
Three weeks of increases
In its update, SEB points to the following expected developments:
Last week: ~80 NOK/kg (final figures not reported)
This week: ~85 NOK/kg (previous SEB estimate 84–85 NOK/kg)
Next week: ~90 NOK/kg
The bank thus estimates an increase of NOK 10 per kilogram over two weeks.
SEB further writes that the average spot price for the quarter, including the estimate for next week, is 78 NOK/kg. The bank's own forecast for the entire Q4 remains at 75 NOK/kg.
