Norwegian salmon prices gently increased in the fifth week of 2024, continuing a trend seen in the week prior.
According to the Nasdaq Salmon Index, the average per-kilogram price of Norwegian salmon in the fifth week of 2024 reached NOK 106.37 (USD 10.04, EUR 9.32) from last week’s NOK 105.42 (USD 10.14, EUR 9.32), which was an increase of NOK 0.95 (USD 0.001, EUR 0.001), or 0.9 percent, week over week.
The index, which provides weekly sales updates and a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway, found the average per-kilo price of Norwegian salmon is down NOK 7.96 (USD 0.75, EUR 0.70) over the past four weeks and up NOK 28.44 (USD 2.69, EUR 2.50) over the past 12 weeks.
In the fifth week of 2024, salmon between 1 and 2 kilograms accounted for 2.08 percent of total sales, which is up from last week’s 0.83 percent of total sales, with an average price of NOK 67.22 (USD 6.35, EUR 5.90) per kilogram, marking a decline of NOK 0.57 (USD 0.01, EUR 0.01) compared to week 4 of 2024, the Nasdaq Salmon Index reported.
Salmon between 2 and 3 kilograms, meanwhile, accounted for 14.96 percent of total sales, which is up from last week’s 12.30 percent of total sales, and sold for an average of NOK 85.35 (USD 8.07, EUR 7.49), which is up NOK 4.17 (USD 0.39, EUR 0.37) week over week.
Salmon in the 3- to 4-kilogram range comprised 27.57 percent of total fish sold, which is up from last week’s 20.63 percent of all fish sold, and had a per-kilo average price of NOK 99 (USD 9.36, EUR 8.69), which is up from last week’s NOK 93.65 (USD 9.00, EUR 8.28), marking an increase of NOK 5.35 (USD 0.51, EUR 0.47) week over week.
The 4- to-5-kilogram category, comprising 23.48 percent of sales, which is down from last week’s 30.92 percent of total sales, saw its average week-over-week per-kilo price increase by NOK 6.02 (USD 0.57, EUR 0.53), reaching NOK 106.79 (USD 10.10, EUR 9.38).
Norwegian salmon between 5 and 6 kilograms, representing 23.08 percent of total sales – up from last week’s 19.67 percent – increased NOK 3.49 (USD 0.33, EUR 0.31) to an average per-kilo price of NOK 122.08 (USD 11.55, EUR 10.73), while 6- to 7-kilogram salmon, which accounted for 5.56 percent of total distribution, sold for an average of NOK 129.88 (USD 12.29, EUR 11.41) – a decline of NOK 2.71 (USD 0.26, EUR 0.24).
The price of salmon weighing between 7 and 8 kilograms reached NOK 135.35 (USD 12.80, EUR 11.88), a decline from last week’s NOK 136.22 (USD 13.08, EUR 12.02), and made up 2.38 percent of the total distribution, while salmon in the 8- to 9-kilogram range increased NOK 0.89 (USD 0.01, EUR 0.01) to reach NOK 140.22 (USD 13.26, EUR 12.31) from last week’s 139.32 (USD 13.35, EUR 12.26), comprising 0.74 percent of all sales.
The Norwegian Salmon Council's weekly report on Norwegian seafood exports indicated the country exported 13,537 metric tons (MT) of salmon and trout during week 5, down from 16,932 MT in the same week of 2023 and down from the 15,362 MT exported in week 4 of 2024.
The largest volume of Norwegian salmon was exported to European countries, which bought 9,164 MT – down from the 11,288 MT of the product exported last week. Specifically, Denmark imported 1,590 MT, which is down from last week’s 2,087 MT; Poland received 1,358 MT, down from last week’s 2,361 MT of Norwegian salmon and trout; Spain imported 1,196 MT, which is up from last week’s 1,149 MT; France imported 1,132 MT, which is down from last week’s 1,465 MT; the Netherlands imported 1,054 MT, which is down from the 1,333 MT sent last week; Italy imported 1,046 MT, which is up from last week’s 908 MT; and the U.K. imported 880 MT, up from last week’s 701 MT.
Elsewhere, China received 1,152 MT, which is up from last week’s 1,088 MT, and the U.S. imported 65 MT, which is down from last week’s 200 MT.
European salmon exchange Fish Pool reported an increase in futures pricing for the foreseeable future. January futures pricing now stands at NOK 107.53 (USD 10.16, EUR 9.44), which is up slightly from last week’s NOK 107 (USD 10.12, EUR 9.40) per kilogram. February's futures slightly increased to NOK 109 (USD 10.30, EUR 9.56) from last week’s 107.20 (USD 10.13, EUR 9.40). March's futures increased to NOK 112.75 (USD 10.65, EUR 9.89) from last week’s NOK 112 (USD 10.58, EUR 9.82).
Futures pricing for Q1 2024 was reported at NOK 109.76 (USD 10.37, EUR 9.63) from last week’s NOK 108.73 (USD 10.41, EUR 9.58), while Q2 2024 futures pricing hit NOK 116.55 (USD 11.01,EUR 10.22) from last week’s NOK 115.90 (USD 10.95, EUR 10.16).
Photo courtesy of Angel Simon/Shutterstock
