Norwegian salmon prices declined further during week 3 of 2024, continuing trends seen the week prior.
According to the Nasdaq Salmon Index (NQSALMON), the average per-kilogram price of Norwegian salmon in the third week of 2024 hit NOK 97.53 (USD 9.93, EUR 8.56), down NOK 6.99 (USD 0.67, EUR 0.61), or 6.69 percent, on week 3 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 12.93 (USD 1.24, EUR 1.13) over the past four weeks and NOK 17.39 (USD 1.66, EUR 1.52) over the past 12 weeks.
In the third week of the new year, salmon between 1 and 2 kilograms accounted for 1.3 percent of total sales, with an average price of NOK 66.79 (USD 6.39, EUR 5.86) per kilogram, which is a decline of NOK 3.53 (USD 0.34, EUR 0.31) compared to the second week of 2024, NQSALMON reported. Salmon between 2 and 3 kilograms, meanwhile, accounted for 15.31 percent of total sales and sold for an average of NOK 80.17 (USD 7.66, EUR 7.03) per kilogram, which is down NOK 2.90 (USD 0.28, EUR 0.25) week over week.
Salmon in the 3- to 4-kilogram range comprised 25.57 percent of all fish sold and had a per-kilo average price of NOK 89.13 (USD 8.53, EUR 7.82), which was a decline of NOK 6.92 (USD 0.66, EUR 0.61) week over week. The 4- to-5-kilogram category, comprising 31.6 percent of total sales, saw its average week-over-week per-kilo price decline by NOK 5.24 (USD 0.50, EUR 0.46), reaching NOK 96.05 (USD 9.19, EUR 8.43).
Norwegian salmon between 5 and 6 kilograms, representing just over 20 percent of total sales, increased to an average per-kilo price of NOK 115.15 (USD 11.01, EUR 10.10), which was down NOK 6.53 (USD 0.62, EUR 0.57) week over week, while 6- to 7-kilogram salmon, which accounted for 3.91 percent of total distribution, sold for an average of NOK 130.87 (USD 12.51, EUR 11.48) – a decline of NOK 4.77 (USD 0.46, EUR 0.42).
The price of salmon weighing between 7 and 8 kilograms increased to NOK 134.28 (USD 12.85, EUR 11.79) and made up 1.44 percent of the total distribution, while salmon in the 8- to 9-kilogram range declined NOK 5.77 (USD 0.55, EUR 0.51) to reach NOK 135.35 (USD 12.95, EUR 11.88) and made up up 0.51 percent of the market share.
European salmon exchange Fish Pool reported an increase of futures pricing for the foreseeable future. January futures pricing now stands at NOK 106.50 (USD 10.19, EUR 9.35) per kilogram. February's futures increased to NOK 107 (USD 10.25, EUR 9.40) from last week’s NOK 105.15 (USD 10.16, EUR 9.27). March's futures, meanwhile, increased to NOK 111.90 (USD 10.72, EUR 9.83) from last week’s NOK 110.30 (USD 10.66, EUR 9.71).
Futures pricing for Q1 2024 was reported at NOK 108.47 (USD 10.39, EUR 9.53), which is a slight drop from last week’s NOK 109.82 (USD 10.61, EUR 9.67), while Q2 2024 futures pricing hit NOK 115.72 (USD 11.09, EUR 10.17), which is a jump from last week’s 87.47 (USD 8.45, EUR 7.70).
Photo courtesy of Gregory Gerber/Shutterstock
