Norwegian salmon prices continued to rise in the last days of 2023.
According to The Nasdaq Salmon Index, the per-kilo price of Norwegian salmon in the first week of 2024 reached NOK 99.75 (USD 9.62, EUR 8.81) in week 52, up NOK 15.14 (USD 1.46, EUR 1.34), or 17.9 percent, from the previous week.
The index, which provides weekly sales updates and a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway, revealed the average per-kilogram price of salmon is up NOK 16.02 (USD 1.55, EUR 1.42) over the past four weeks and is up 26.6 percent, or NOK 20.97 (USD 2.02, EUR 1.85) over the past 12 weeks.
The per-kilo average price also rose in week 51 of 2023, hitting NOK 84.60 (USD 8.16, EUR 7.48).
In week 52, Salmon between 1 and 2 kilograms accounted for 0.82 percent of total sales, with an average price of NOK 76.44 (USD 7.27, EUR 6.67), which is an increase of NOK 15.57 (USD 1.50, EUR 1.38) over last week, Nasdaq reported. Salmon between 2 and 3 kilograms, meanwhile, accounted for 10.69 percent of total sales and sold for an average of NOK 86.42 (USD 8.33, EUR 7.64), which is up NOK 12.06 (USD 1.16, EUR 1.07).
Salmon in the 3- to 4-kilogram range comprised 34.19 percent of all fish sold and had a per-kilogram average price of NOK 95.69 (USD 9.22, EUR 8.46) – an increase of NOK 13.66 (USD 1.32, EUR 1.21). The 4- to 5-kilogram category, comprising 28.82 percent of total sales, saw its average price increase by NOK 13.49 (USD 1.30, EUR 1.19), totaling NOK 100.02 (USD 9.63, EUR 8.84).
Norwegian salmon between 5 and 6 kilograms, representing 17.41 percent of total sales, increased to an average per-kilogram price of NOK 107.74 (USD 10.38, EUR 9.52), which is up NOK 16.95 (USD 1.63, EUR 1.50) week over week, while 6- to 7-kilogram salmon, which accounted for 5.73 percent of the total distribution, sold for an average of NOK 114.31 (USD 11.02, EUR 10.10) – an increase of NOK 17.75 (USD 1.71, EUR 1.57).
The price of salmon weighing between 7 and 8 kilograms increased to NOK 125.21 (USD 12.09, EUR 11.09) and comprised 1.31 percent of the total distribution. Salmon in the 8- to 9-kilogram range increased NOK 43.63 (USD 4.21, EUR 3.86) to NOK 134.85 (USD 13.01, EUR 11.93).
European salmon exchnage Fish Pool reported an expected increase of future prices until Q3 2024. January futures pricing increased to NOK 105.20 (USD 10.15, EUR 9.31) per kilogram, while February's futures reached NOK 109.40 (USD 10.56, EUR 9.69). March's futures increased to NOK 112.10 (USD 10.82, EUR 9.92).
Futures pricing for Q1 2024 was reported at NOK 108.90 (USD 10.49, EUR 9.62), while Q2 2024 futures pricing hit NOK 114.40 (USD 11.03, EUR 10.11).
According to the Oslo Børs Fish Pool Price Status, Norway exported 18,480 metric tons (MT) of salmon in week 51 of 2023, up from the 18,401 MT exported in the corresponding week of 2022.
The Norwegian Salmon Council's weekly report on Norwegian seafood exports indicated the country exported 18,566 MT of salmon and trout. The largest volume of salmon was exported to the E.U., with 12,757 MT.
In Europe, Poland received 12,757 MT of Norwegian salmon and trout, France imported 2,798 MT; Denmark imported 1,805 MT, the Netherlands imported 1,462 MT; Spain imported 1,191 MT; Italy imported 1,094 MT; and the U.K. imported 1,023 MT.
China received 814 MT, and the U.S. imported 331 MT in week 51 of 2023.
Photo courtesy of Leroy Seafood/Facebook
