The strong bullish trend in the spot market for Norwegian salmon has resulted in high activity at the salmon exchange Fish Pool ASA.
Last week, the marketplace traded financial contracts equivalent to 5,100 tons and NOK161m in underlying volume and value. Compared with the export of salmon from Norway in week five, Fish Pool’s trading volume represented more than 30% of the underlying physical volume.
"It is the close periods, February and March, which has the largest turnover at the moment", says CEO in Fish Pool ASA, Søren Martens. "We are also experiencing high demand for longer contracts. The liquidity of the 2010 and the 2011 contracts have clearly improved lately," he continues."The physical buyers have been shaken by the strong bullish trend in the spot market and now fear a repetition of the extreme prices experienced in 2009," says Mr Martens. "For Fish Pool’s sake, this means a good start of the year and we hope to pass last year's trade volume, which ended at 73,395 tons with a good margin" Mr Martens concludes.
