Markets
Salmon equities
An equal-weighted basket of 5 Norway-listed salmon farmers, its trailing correlation with the export benchmark $/kg, and per-ticker performance against the physical market.
Basket performance
Equal-weighted basket — -1.6% on the day, -11.0% over the week, -33.5% year-to-date. Trailing 52-week correlation with the SSB export benchmark is 0.08 (−1 to +1).
Constituents
| Ticker | Company | Category | Close (NOK) | Day | Week | YTD |
|---|---|---|---|---|---|---|
| MOWI.OL | Mowi | broad | kr 180.00 | -1.5% | -8.7% | -26.3% |
| SALM.OL | SalMar | pure-farmer | kr 452.60 | -2.3% | -16.8% | -26.9% |
| BAKKA.OL | Bakkafrost | premium | kr 395.20 | -1.8% | -8.7% | -23.6% |
| LSG.OL | Lerøy Seafood | diversified | kr 37.94 | -0.9% | -8.2% | -26.3% |
| GSF.OL | Grieg Seafood | speculative | kr 27.08 | -0.9% | -9.4% | -64.7% |
- Mowi (MOWI.OL): Broadest sector proxy — vertically integrated across feed, farming, and sales/marketing in 70+ countries.
- SalMar (SALM.OL): World #2 Atlantic salmon farmer; Norway + offshore + Iceland + Scotland exposure.
- Bakkafrost (BAKKA.OL): Premium Faroe Islands + Scotland exposure; high-quality operator outside the EU antitrust scope.
- Lerøy Seafood (LSG.OL): Salmon + trout + whitefish + shellfish integrated value chain — less pure-play, more diversified.
- Grieg Seafood (GSF.OL): Smaller salmon farmer; higher-volatility / turnaround exposure (Norway + Newfoundland).
EU antitrust note: preliminary objections (Jan 2024, Case AT.40606) name six producers — of this basket, Mowi, SalMar, Lerøy Seafood, Grieg Seafood, plus unlisted Cermaq and Bremnes — for alleged spot-price collusion 2011–2019. Bakkafrost (Faroese) is not in scope. Unresolved; companies contested — not a final ruling.
What's here
On the live page: basket performance, an indexed sector chart, a basket-versus-benchmark crossover, and a correlation read between listed salmon farmers and the underlying export price — built for analysts tracking how equities and physical salmon prices move together.