Norwegian salmon prices rise slightly in week 20 of 2024, up nearly 11 percent over the past 12 weeks

Sliced Norwegian salmon in a package
Sliced Norwegian salmon in a package I Photo courtesy StockPhotosArt/Shutterstock
4 Min

In week 20 of 2024, the average per-kilogram price of Norwegian salmon reached NOK 129.28 (USD 12.07, EUR 11.16), a 0.15 percent increase from the week 19's NOK 129.09 (USD 12.06, EUR 11.14).

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 increased 1.81 percent over the past four weeks and increased nearly 10.79 percent over the past 12 weeks.

Salmon between 1 and 2 kilograms accounted for 0.96 percent of total sales during the 20th week of 2024 and reached an average price of NOK 84.84 (USD 7.92, EUR 7.32), down from the prior week’s NOK 91.85 (USD 8.57, EUR 7.92).

Salmon between 2 and 3 kilograms comprised 9.17 percent of total sales and sold for an average of NOK 112.81 (USD 10.53, EUR 9.73), down from the previous week’s NOK 112.93 (USD 10.54, EUR 9.74).

Salmon in the 3- to 4-kilogram range comprised 24.25 percent of total fish sold and had a per-kilo average price of NOK 125.83 (USD 11.75, EUR 10.86), up from the previous week’s NOK 124.80 (USD 11.65, EUR 10.77).

The 4- to 5-kilogram category, comprising 24.40 percent of total sales during week 20, had its average week-over-week per-kilo price increase by NOK 1.45 (USD 0.14, EUR 0.13), reaching NOK 131.04 (USD 12.23, EU 11.30), up from the previous week’s NOK 129.58 (USD 12.09, EUR 11.18).

Norwegian salmon between 5 and 6 kilograms made up 26.06 percent of sales, and prices in the category increased NOK 1.08 (USD 0.10, EUR 0.09) week over week, amounting to NOK 136.33 (USD 12.72, EUR 11.76), up from the previous week’s NOK 135.24 (USD 12.62, EUR 11.66).

Salmon in the 6- to 7-kilogram category made up 10.44 percent of total sales and sold for an average of NOK 134.42 (USD 12.55, EUR 11.59), down from the previous week’s NOK 135.02 (USD 12.60, EUR 11.64).

Salmon weighing between 7 and 8 kilograms, which accounted for 2.57 percent of total distribution, reached an average per-kilo price of NOK 132.47 (USD 12.36, EUR 11.43), up from week 19’s NOK 131.82 (USD 12.30, EUR 11.37).

Salmon in the 8- to 9-kilogram range comprised 1.84 percent of sales, and its prices decreased week over week by NOK 5.58 (USD 0.52, EUR 0.48) to reach an average of NOK 125.15 (USD 11.68, EUR 10.79), down from the previous week’s NOK 130.73 (USD 12.20, EUR 11.27).

International commodity exchange Fish Pool predicts the average futures pricing of Norwegian salmon and slated May’s average prices to increase to NOK 126.50 (USD 11.87, EUR 10.97), up from the prior week’s estimate of NOK 125.50 (USD 11.78, EUR 10.88). June’s predicted futures pricing also increased to NOK 117.50 (USD 11.03, EUR 10.19), up from NOK 112.50 (USD  10.56, EUR 9.75).

Q3 futures pricing predictions for 2024 stayed the same from the previous week at NOK 89.77 (USD 8.43, EUR 7.78), while Q4 2024 futures pricing also stayed the same at NOK 91.23 (USD 8.56, EUR 7.91).

The Norwegian Salmon Council's weekly report on Norwegian seafood exports showed the country exported 11,739 metric tons (MT) of salmon in the 20th week of 2024, up from the previous week's 10,672 MT.

European nations were yet again the primary market for Norwegian salmon, purchasing 8,621 MT of the product, lower than week 19's 7,527 MT.

Denmark imported 1,554 MT, which is higher than the 1,085 MT from the previous week; Poland purchased 1,341 MT, an increase from 1,290 MT the prior week; Spain imported 1,124 MT, down from the 1,227 MT sent the previous week;  France imported 1,073 MT, down from the 1,099 MT last week; Italy imported 1,059 MT, slightly lower than week 19's 1,099 MT; the Netherlands imported 908 MT, up from the 827 MT imported the previous week; and the U.K. imported 610 MT, down from the prior week’s 710 MT.

China received 532 MT, which was down on week 19's 536 MT of imported Norwegian salmon, and the U.S. imported 92 MT, which is higher than the 55 MT from the previous week.

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