Big drop recorded in weekly Norwegian salmon prices

Over the past week, the average per-kilo price of farmed Norwegian Atlantic salmon dropped NOK 17.61 (USD 1.65, EUR 1.50) to reach an average of NOK 91.36 (USD 8.56, EUR 7.80).

It is a significant decline from the NOK 108.97 (USD 10.21, EUR 9.31) average price reported by the Nasdaq Salmon Index last week. The index offers a weekly sales report and a the weighted average index of prices for fresh, head-on gutted Atlantic superior salmon sourced from Norway. 

Over the past four weeks, the average price has dropped 15.88 percent, or NOK 17.25 (USD 1.62, EUR 1.47), and over the past 12 weeks, the price declined 22.83 percent, or NOK 27.04 (USD 2.53, EUR 2.31).

In the 24th week of 2023, 2- to 3-kilogram fish accounted for 15.42 percent of all sales and sold for a per-kilo average of NOK 81.88 (USD 7.67, EUR 6.99), and 3- to 4-kilo salmon was 29.22 percent of all fish sold, for a per-kilo average of NOK 88.35 (USD 8.28, EUR 7.54) In the 4- to 5-kilogram category, making up 27.41 percent of all sales, the average price declined 19.71 percent to NOK 93.84 (USD 8.79, EUR 8.01). Fish between 5 and 6 kilograms, representing 14.10 percent of all sales, hit an average per-kilo price of NOK 100.15 (USD 9.38, EUR 8.55) down 21.03 percent.

In week 24, Norway exported 17,359 MT of Atlantic salmon, up from 15,317 MT in the same week a year ago, but down from the 18,299 MT sold in week 23.

Fish Pool reported index forward prices for July listed at NOK 87.50 (USD 9.56, EUR 8.80) per kilo, declining to NOK 77.50 (USD 7.26, EUR 6.62) for August, and NOK 75.00 (USD 7.02, EUR 6.40) for September. 

Forward prices for Q3 2023 declined to NOK 80.00 (USD 7.49, EUR 6.83) and NOK 82.33 (USD 7.71, EUR 7.03) for Q4 2023. The forward price for Q1 and Q2 2024 was NOK 100.08 (USD 9.38, EUR 8.55) and it was NOK 84.42 (USD 7.91, EUR 7.21) for Q3 and Q4 2024.

Photo courtesy of Vipavlenkoff/Shutterstock