Norwegian salmon prices declined in the second week of 2024 – a change from its continuous increase in prior weeks.
According to the Nasdaq Salmon Index (NQSALMON), the average per-kilogram price of Norwegian salmon in the second week of 2024 reached NOK 104.52 (USD 9.92, EUR 9.13), which was down NOK 9.81 (USD 0.93, EUR 0.86), or 8.58 percent, on week 2 of 2024.
NQSALMON, which provides weekly sales updates and a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway, revealed the average per-kilo price of salmon is up NOK 20.38 (USD 1.93, EUR 1.78) over the past four weeks and up NOK 20.34 (USD 1.93, EUR 1.78) over the past 12 weeks.
In the second week of the new year, salmon between 1 and 2 kilograms accounted for 0.68 percent of total sales and carried an average price of NOK 70.32 (USD 6.68, EUR 6.15) per kilogram, which is a decline of NOK 5.21 (USD 0.49, EUR 0.46) compared to week 1 of 2024, NQSALMON reported.
Salmon between 2 and 3 kilograms, meanwhile, accounted for 12.43 percent of total sales and sold for an average of NOK 83.06 (USD 7.89, EUR 7.26) per kilo, which is down NOK 7.83 (USD 0.74, EUR 0.68) week over week.
Salmon in the 3- to 4-kilogram range comprised 26.44 percent of all fish sold and had a per-kilo average price of NOK 96.05 (USD 9.11, EUR 8.39), marking a decline of NOK 12.03 (USD 1.14, EUR 1.05) week over week. The 4- to 5-kilogram category, comprising 31.52 percent of total sales, saw its average week-over-week per-kilo price decline by NOK 16.47 (USD 1.56, EUR 1.44), reaching NOK 101.28 (USD 9.60, EUR 8.84).
Norwegian salmon between 5 and 6 kilograms, representing 19.97 percent of total sales, declined to an average per-kilo price of NOK 121.68 (USD 11.53, EUR 10.62), marking a NOK 10.05 (USD 0.96, EUR 0.88) drop week over week, while 6- to 7-kilogram salmon, which accounted for 6.84 percent of total distribution, sold for an average of NOK 135.64 (USD 12.85, EUR 11.84) – a decrease of NOK 5.77 (USD 0.55, EUR 0.50) week over week.
The price of salmon weighing between 7 and 8 kilograms declined to NOK 130.81 (USD 12.40, EUR 11.43) and made up 1.65 percent of the total distribution, while salmon in the 8- to 9-kilogram range declined NOK 6.74 (USD 0.64, EUR 0.59) to reach NOK 141.13 (USD 13.37, EUR 12.32), making up 0.34 percent of the market share.
International commodity exchangeFish Pool reported January futures pricing declined to NOK 105 (USD 9.96, EUR 9.18) from last week’s NOK 110 (USD 10.63, EUR 9.69). February's futures also dropped slightly to NOK 105 from last week’s NOK 105.15 (USD 10.16, EUR 9.27), and March's futures remained steady at NOK 110.30 (USD 10.66, EUR 9.71).
Futures pricing for Q1 2024 dropped to NOK 106.77 (USD 10.12, EUR 9.33) from last week’s NOK 109.82 (USD 10.61, EUR 9.67), while Q2 2024 futures pricing increased to NOK 113.82 (USD 10.82, EUR 9.95) from last week’s NOK 87.47 (USD 8.45, EUR 7.70).
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