Norwegian salmon prices inch back up after brief decline

Norwegian salmon with flag

Norwegian salmon prices increased in the fourth week of 2024 after declining at the beginning of the new year.

According to the Nasdaq Salmon Index, the average per-kilogram price of Norwegian salmon in the fourth week of 2024 reached NOK 105.42  (USD 10.14, EUR 9.32), which was up NOK 7.89 (USD 0.76, EUR 0.70), or 8.09 percent, on week 4 of 2024.

The index provides weekly sales updates and a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway. It found the average per-kilo price of Norwegian salmon is up NOK 5.68 (USD 0.55, EUR 0.50) over the past four weeks and NOK 27.77 (USD 2.67, EUR 2.46) over the past 12 weeks.

In the fourth week of 2024, salmon between 1 and 2 kilograms accounted for 0.83 percent of total sales, with an average price of NOK 67.79 (USD 6.52, EUR 5.99) per kilogram, an increase of NOK 1.00 (USD 0.10, EUR 0.09) compared week 3 of 2024, the Nasdaq Salmon Index reported. Salmon between 2 and 3 kilograms, meanwhile, accounted for 12.30 percent of total sales and sold for an average of NOK 81.17 (USD 7.30, EUR 7.17) per kilo, up NOK 1.01 (USD 0.11, EUR 0.10) week over week.

Salmon in the 3- to 4-kilogram range comprised 20.63 percent of all fish sold and had a per-kilo average price of NOK 93.65 (USD 9.00, EUR 8.28), which was an increase of NOK 4.52 (USD 0.43, EUR 0.40) week over week. The 4- to-5-kilogram category, comprising 30.92 percent of total sales, saw its average week-over-week per-kilo price increase by NOK 4.73 (USD 0.45, EUR 0.42), reaching NOK 100.78 (USD 9.69, EUR 8.91).

Norwegian salmon between 5 and 6 kilograms, representing 19.67 percent of total sales, increased to an average per-kilo price of NOK 118.59 (USD 11.39, EUR 10.47), which was up NOK 3.44 (USD 0.33, EUR 0.30) week over week, while 6- to 7-kilogram salmon, which accounted for 8.67 percent of total distribution, sold for an average of NOK 132.60 (USD 12.73, EUR 11.71) – an increase of NOK 1.72 (USD 0.17, EUR 0.15).

The price of salmon weighing between 7 and 8 kilograms increased to NOK 136.22 (USD 13.08, EUR 12.02) and made up 5.02 percent of the total distribution, while salmon in the 8- to 9-kilogram range increased NOK 1.94 (USD 0.19, EUR 0.17) to reach NOK 139.32 (USD 13.35, EUR 12.26), comprising 1.84 percent of all sales.

The Norwegian Salmon Council's weekly report on Norwegian seafood exports indicated the country exported 15,362 metric tons (MT) of salmon and trout, down from 16,916 MT in the same week of 2023, but up from the 14,622 MT exported in week 3 of 2024.

The largest volume of Norwegian salmon was exported to European countries, which bought 11,288 MT of the product. Specifically, Poland received 2,361 MT of Norwegian salmon;  Denmark imported 2,087 MT, France imported 1,465 MT; the Netherlands imported 1,333 MT; Spain imported 1,149 MT; the U.K. imported 701 MT, and Italy imported 908 MT.

Elsewhere, China received 1,088, and the U.S. imported 200 MT.

European salmon exchange Fish Pool reported an increase of futures pricing for the foreseeable future. January futures pricing now stands at NOK 107.00 (USD,EUR) from last week’s 106.50 (USD 10.19, EUR 9.35) per kilogram. February's futures slightly increased to NOK 107.20 (USD,EUR) from last week’s NOK 107 (USD 10.25, EUR 9.40). March's futures, meanwhile, remained flat at NOK 112.00 (USD,EUR) from last week’s NOK 111.90 (USD 10.72, EUR 9.83).

Futures pricing for Q1 2024 was reported at NOK 108.73 (USD 10.41, EUR 9.58), which is a slight increase from last week’s 108.47 (USD 10.39, EUR 9.53) while Q2 2024 futures pricing hit NOK 115.90 (USD,EUR) from last week’s 115.72 (USD 11.09, EUR 10.17).

Photo courtesy of Yuka Kayu/Shutterstock


Want seafood news sent to your inbox?

You may unsubscribe from our mailing list at any time. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500