Norwegian salmon prices continue to inch downwards

Norwegian salmon prices continued to decline in the 33rd week of the year, continuing a downward pricing trend.

The Nasdaq Salmon Index reported the average price of a kilogram of Atlantic salmon farmed in Norway hit NOK 73.39 (USD 6.90, EUR 6.37), a drop of NOK 0.80 (USD 0.08, EUR 0.07), or 1.08 percent, week-over-week to compared to week 32.

Norway exported a total of 22,698 MT of salmon in the past week, up from the 22,368 MT it sent in the corresponding week of 2022. The cumulative total is up from the 21,060 MT sent in week 32 of 2023, Fish Pool reported.

The Nasdaq index provides weekly sales updates and a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway. Over the past four weeks, the index reported the average price dropped 13.92 percent, or NOK 11.87 (USD 1.12, EUR 1.03). The past 12 weeks, Norwegian salmon prices dropped 32.73 percent, or NOK 35.71 (USD 3.36, EUR 3.10).

By weight class, 1-to 2-kilogram salmon accounted for 0.63 percent of sales, with average prices increasing by NOK 2.23 (USD 0.21, EUR 0.19) to NOK 56.95 (USD 5.36, EUR 4.94). Fish between 2 and 3 kilograms in weight accounted for 9.78 percent of all sales and sold for an average of NOK 65.13 (USD 6.13, 5.65), down NOK 1.37 (USD 0.13, EUR 0.12). Three- to 4-kilogram salmon made up 27.63 percent of all fish sold and had a per-kilogram average price of NOK 70.36 (USD 6.62, EUR 6.10), a drop of NOK 0.36 (USD 0.034, EUR 0.31). The largest quantity of salmon distribution, the 4- to 5-kilogram category, comprised 41.88 percent of total sales and the average price fell NOK 0.88 (USD 0.083, EUR 0.076) from last week. Salmon weighing between 5 and 6 kilograms, representing 15.34 percent of total sales, reached an average per-kilogram price of NOK 75.71 (USD 7.13, EUR 6.56) and dropped NOK 3.28 (USD 0.31, EUR 0.28).

Fish Pool reported August's futures pricing declined week-over-week to NOK 73.00 (USD 6.87, EUR 6.33) from  NOK 73.50 (USD 6.93, EUR 6.38) last week, and futures pricing for September declined to NOK 70.45 (USD 6.63, EUR 6.12) from last week's NOK 71.55 (USD 6.74, EUR 6.21). 

October forward prices are down from last week's NOK 74.70 (USD 7.04, EUR 6.49) to NOK 73.70 (USD 6.95, EUR 6.40). November's futures pricing reached NOK 77.50 (USD 7.31, EUR 6.73), down from last week's NOK 78.10 (USD 7.36, EUR 6.78). December's prices remained flat at the same price as last week estimated at NOK 87.30 (USD 8.23, EUR 7.59), with Q4 2023 declining to NOK 79.50 (USD 7.49, EUR 6.90) from last week's NOK 80.03 (USD 7.54, EUR 6.95). 

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