Nasdaq Salmon Index reports 7.7 percent price spike on Norwegian product in the past week

Norwegian salmon prices jumped 7.7 percent in the past week, or NOK 8.40 (USD 0.76, EUR 0.71), reaching an average of NOK 117.50 (USD 10.64, EUR 9.94) per kilogram in the 22nd week of 2023.

The price is up from the NOK 109.10 (USD 9.88, EUR 9.24) reported last week.

The Nasdaq Salmon Index weekly price sales update reports the total weighted average index of prices for fresh, head-on gutted Atlantic superior salmon. Over the past four weeks, the average price has risen 5.21 percent, or NOK 5.81 (USD 0.53, EUR 0.49). Over the past 12 weeks, the price is down 5.49 percent, or NOK 6.82 (USD 0.62, EUR 0.58).

The total volume of Norwegian salmon reported sold was 2,600.2 MT, 1 percent higher in comparison to the same week of 2022. An estimated 606,100 salmon were sold at an average weight of 4.29 kilograms per fish. The export volume over the last five week has increased by 5 percent, or 3,602 MT, year-over-year. 

According to the report, 2- to 3-kilogram fish accounted for 7.7 percent of all sales and brought in an average of NOK 93.62 (USD 8.48, EUR 7.93). Salmon weighing 3 to 4 kilograms were 23 percent of those sold and rose 5.8 percent in price to NOK 107.54 (USD 9.74, EUR 9.10). In the 4- to 5-kilogram category, representing 26.7 percent of all sales, prices rose 6.5 percent to NOK 116.68 (USD 10.57, EUR 9.88). Fish between 5 and 6 kilograms, representing 21.3 percent of all sales, hit an average price of NOK 127.49 (USD 11.55, EUR 10.79) up 5.54 percent.

Fish Pool reported an increase in forward prices for June, reaching an average of NOK 104.00 (USD 9.25, EUR 8.60), no change in the estimated July forward price at NOK 91.20 (USD 8.26, EUR 7.72), and then a decline in August to NOK 78.80 (USD 7.14, EUR 6.67) and September to NOK 76.30 (USD 6.90, EUR 6.45). Forward prices for Q3 and Q4 2023 are up to NOK 82.10 (USD 7.44, EUR 6.95) and NOK 83.72 (USD 7.58, EUR 7.08), respectively, and forward prices for Q1 and Q2 2024 are also up, the report noted.

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