Norwegian salmon prices creep back up 5.5 percent

Norwegian salmon prices are up 5.5 percent over the past week.

The average per-kilogram price for farmed Norwegian Atlantic salmon rose NOK 4.60 (USD 0.43, EUR 0.40) to an average of NOK 88.23 (USD 8.29, EUR 7.62) in the 26th week of 2023, according to the Nasdaq Salmon Index, which offers a weekly sales update and weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway. 

Last week, average prices dropped to NOK 83.63 (USD 8.29, EUR 7.62) per kilo. Over the past four weeks, the per-kilo average has declined 24.91 percent, or NOK 29.27 (USD 2.75, EUR 2.53), and over the past 12 weeks, the price has declined by 20.86 percent, or NOK 23.26 (USD 2.18, EUR 2.01).

In the 26th week of 2023, 2 to 3-kilogram fish accounted for 13.96 percent of all sales and sold for a per-kilo average of NOK 72.09 (USD 6.77, EUR 6.22), a decline of NOK 2.78 (USD 0.26, EUR 0.24). Three-to 4-kilo salmon made up 27.91 percent of all fish sold and had a per-kilo average price of NOK 85.82 (USD 8.05, EUR 7.41), an increase of NOK 3.76 (USD 0.35, EUR 0.32). 

The 4- to 5-kilogram category equated to 28.54 percent of all sales, with the average price increasing by NOK 4.61 (USD 0.43, EUR 0.40) to NOK 90.42 (USD 8.49, EUR 7.81). Norwegian salmon weighing between 5 and 6 kilograms, representing 15.22 percent of total sales, reached an average per-kilo price of NOK 98.50 (USD 9.24, EUR 8.50) up NOK 7.51 (USD 0.70, EUR 0.65).

Overall, Norway exported a total of 17,238 MT of Atlantic salmon, up from 16,792 MT in the same week in 2022, but down from the 16,407 MT sold in week 26 of 2023.

Fish Pool reported futures are trending upward. The July index forward price was listed at NOK 88.50 (USD 8.30, EUR 7.64) per kilogram, up from NOK 88.00 (USD 8.25, EUR 7.60) last week. 

The August price was also listed as trending upward at NOK 77.50 (USD 7.27, EUR 6.69), though September also remained flat at NOK 76.00 (USD 7.13, EUR 6.56).

Photo courtesy of Yuka Kayu /Shutterstock