Prices for Norway’s farmed Atlantic salmon have generally trended downward over the past 11 months – from an average of NOK 72.42 (USD 8.70, EUR 7.38) per kg for fresh salmon in the second week of January to an average level of NOK 50.68 (USD 6.09, EUR 5.17) per kg for the month of November, but with 2017 coming to a close they have started to rise in line with the traditional seasonal peak demand.
At the start of this month, the average price of Norwegian salmon stood at NOK 48.65 (USD 5.84, EUR 4.96) per kg, which was down slightly on the previous week and 23 percent less than at the same stage of 2016. While additional supplies continue to come into the market, analysts are expecting prices to climb to a level of around NOK 53 (USD 6.36, EUR 5.40) per kg this month, rising to NOK 58.10 (USD 6.97, EUR 5.92) in January before slipping to NOK 57.50 (USD 6.90, EUR 5.86) in February.
The average FOB price at Norwegian Customs for fresh salmon so far this year is NOK 61.87 (USD 7.43, EUR 6.31) per kg, up 4 percent year-on-year, and 48 percent more than at the same stage of 2015. The average price of frozen salmon exports, meanwhile, is NOK 64.62 (USD 7.76, EUR 6.59) per kg, up 11 percent compared with the same period of last year and 48 percent more than in 2015.
According to the Norwegian Seafood Council (NSC), in the first 11 months of 2017, Norwegian exporters shipped 909,000 MT of salmon products with a total value of NOK 59 billion (USD 7.1 billion, EUR 6 billion), with the volume and value up 2 percent and 7 percent respectively, compared with the corresponding period of 2016.
Poland and France have continued to buy the most Norwegian salmon this year, while exports to China are now at their highest level for two years.
Norway is forecast to harvest 1.2 million MT of salmon this year and 1.3 million MT in 2018.
