Norwegian salmon prices rise nearly 8 percent in week 18 of 2024

Cubes of Norwegian salmon
Cubes of Norwegian salmon I Photo courtesy of Boonchuay1970/Shutterstock
4 Min

The average per-kilogram price of Norwegian salmon reached NOK 127.06 (USD 10.82, EUR 10.07) in week 18 of 2024, up 7.7 percent from the previous week’s NOK 117.95 (USD 10.81, EUR 10.06).

According to the Nasdaq Salmon Index, a database that provides weekly sales updates and a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway, average prices have decreased 6.08 percent over the past four weeks but increased nearly 17 percent over the past 12 weeks.

Salmon between 1 and 2 kilograms accounted for 10.7 percent of total sales during the 18th week of 2024 and reached an average price of NOK 89.08 (USD 8.17, EUR 7.60), down from the previous week’s NOK 84.18 (USD 7.72, EUR 7.18).

Salmon between 2 and 3 kilograms comprised 8.43 percent of total sales and sold for an average of NOK 109.36 (USD 10.02, EUR 9.33), which is up from the previous week’s NOK 106.71 (USD 9.78, EUR 9.10).

Salmon in the 3- to 4-kilogram range comprised 20.24 percent of total fish sold and had a per-kilo average price of NOK 123.19 (USD 11.29, EUR 10.51), up from the previous week’s NOK 116.20 (USD 10.65, EUR 9.91).

The 4- to 5-kilogram category, comprising 19.7 percent of total sales during week 18, had its average week-over-week per-kilo price increase by NOK 8.74 (USD 0.80, EUR 0.75), reaching NOK 127.33 (USD 11.76, EU 10.86), up from the previous week’s NOK 118.59 (USD 10.87, EUR 10.12).

Norwegian salmon between 5 and 6 kilograms made up 26.37 percent of sales, and prices in the category increased NOK 10.18 (USD 0.93, EUR 0.87) week over week, amounting to NOK 133.48 (USD 12.24, EUR 11.39), up from the previous week’s NOK 123.29 (USD 11.30, EUR 10.52). 

Salmon in the 6- to 7-kilogram category made up 15.14 percent of total sales and sold for an average of NOK 132.03 (USD 12.10, EUR 11.26), up from the previous week’s NOK 123.29 (USD 11.30, EUR 10.52).

Salmon weighing between 7 and 8 kilograms, which accounted for 6.26 percent of total distribution, reached an average per-kilo price of NOK 129.17 (USD 12.10, EUR 11.26), up from the previous week’s NOK 123.80 (USD 11.35, EUR 10.56).

Salmon in the 8- to 9-kilogram range comprised 2.36 percent of sales and increased week over week by NOK 7.17 (USD 0.66, EUR 0.61) to reach an average price of NOK 129.11 (USD 11.84, EUR 11.02), up from the previous week’s NOK 121.94 (USD 11.18, EUR 10.40).

International commodity exchange Fish Pool predicts the average futures pricing of Norwegian salmon and slated May’s average prices to increase to NOK 122 (USD 11.19, EUR 10.41), up from last week’s estimates of NOK 119.25 (USD 10.93, EUR 10.18). June’s predicted futures pricing remains the same at NOK 110.90 (USD 9.52, EUR 8.79).

Q2 2024 futures pricing predictions increased to NOK 121.19 (USD 11.11, EUR 10.34) from the previous week’s NOK 120.25 (USD 10.83, EUR 11.03), and Q3 2024 has also increased to NOK 89.27 (USD 8.19, EUR 7.62) from the previous week’s NOK 88.77 (USD 8.14, EUR 7.58).

Q4 2024 futures pricing now stands at a predicted NOK 90.73 (USD 8.32, EUR 7.74), slightly up from week 17's estimates of NOK 90.23 (USD 8.27, EUR 7.70).

The Norwegian Salmon Council's weekly report on Norwegian seafood exports showed the country exported 11,547 metric tons (MT) of salmon in the 18th week of 2024, down from the prior week's 12,997 MT.  

European nations were yet again the primary market for Norwegian salmon, purchasing 8,320 MT of the product, which is lower than week 17's 9,573 MT.

Denmark imported 1,613 MT which is lower than the 2,789 MT from the previous week; Poland purchased 1,381 MT, a decrease from 1,336 MT the prior week; the Netherlands imported 1,086 MT, up from the 997 MT imported the previous week; Spain imported 1,055 MT, up from the 949 MT sent the previous week; France imported 1,024 MT, down from the 1,060 MT last week; Italy imported 934 MT, up from week 17's 1,004 MT; and the U.K. imported 684 MT, down from the prior week’s 737 MT.

China received 521 MT, down from week 17's 634 MT of Norwegian salmon, and the U.S. imported 123 MT, which is higher than the 36 MT from the previous week.

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