Norwegian salmon prices down 25 percent in last three months

Norwegian salmon prices have continued to decline in the 31st week of 2023.

Nasdaq Salmon Index reported the average price of a kilogram of Atlantic salmon farmed in Norway dropped NOK 2.59 (USD 0.25, EUR 0.23), or 3.18 percent, week-over-week to NOK 78.88 (USD 7.72, EUR 7.03) compared to week 30.

The index provides weekly sales updates and a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway, and reported the average price declined 13.5 percent, or NOK 12.31 (USD 1.21, EUR 1.10), over the past four weeks. Over the past 12 weeks, Norwegian salmon prices have dropped 23.48 percent, or NOK 24.20 (USD 2.37, EUR 2.16).

Norway exported a total of 20,469 MT in the past week, up from 18,577 MT from the corresponding week in 2022, and up from the 19,604 MT seen in week 30, Fish Pool reported.

It said 1-to 2-kilogram salmon accounted for 0.73 percent of sales and, with prices declining NOK 1.13 (USD 0.11, EUR 0.10). Two- to 3-kilogram fish, accounted for 17.67 percent of all sales, sold for a per-kilo average of NOK 68.72 (USD 6.73, EUR 6.13), a decline of NOK 0.59 (USD 0.058, EUR 0.053). Three-to-4-kilo salmon, which made up 31 percent of all fish sold, had a per-kilo average price of NOK 75.29 (USD 7.38, EUR 6.71), a drop of NOK 0.90 (USD 0.088, EUR 0.080). The 4- to 5-kilogram category comprised 29.18 percent of total sales, and the average price fell NOK 1.88 (USD 0.18, EUR 0.17) from last week. Norwegian salmon weighing between 5 and 6 kilograms, representing 14.19 percent of total sales, reached an average per-kilo price of NOK 86.00 (USD 8.41, EUR 7.66) down NOK 0.51 (USD 0.050, EUR 0.045).

Fish Pool continued to report futures trending flat for the foreseeable future. August's future pricing increased week-over-week to NOK 75.00 (USD 7.34, EUR 6.68), along with September's at NOK 71.55 (USD 7.00, EUR 6.37). Q3 projected forward prices at NOK 79.20 (USD 7.75, EUR 7.06), and Q4 declining to NOK 80.03 (USD 7.83, EUR 7.13). 

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