Norwegian salmon prices drop 4 percent week over week

Prices of Norwegian salmon continued to decline in the 30th week of 2023.

According to the Nasdaq Salmon Index, the average price of a kilogram of Atlantic salmon farmed in Norway dropped NOK 3.79 (USD 0.37, EUR 0.34), or  4.44 percent, week-over-week to NOK 81.47 (USD 7.98, EUR 7.28) compared to week 29.

The index, which provides weekly sales updates and a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway, reported the average price declined 7.66 percent, or NOK 6.76 (USD 0.66, EUR 0.60), over the past four weeks. Over the past 12 weeks, Norwegian salmon prices have dropped 27.05 percent, or NOK 30.22 (USD 2.96, EUR 2.70).

In the 30th week of 2023, Norway exported a total of 19,604 MT of Atlantic salmon, up from 18,358 MT from the corresponding week in 2022, and up from the 17,898 MT seen in week 29, Fish Pool reported.

Prices for 1-to 2-kilogram salmon increased  NOK 2.01 (USD 0.20, EUR 0.18) and accounted for 0.96 percent of sales. Two- to 3-kilogram fish, which accounted for 17.24 percent of all sales, sold for a per-kilo average of NOK 69.31 (USD 6.73, EUR 6.16), a decline of NOK 0.61 (USD 0.059, EUR 0.054). Three- to 4-kilo salmon, which made up 25 percent of all fish sold, had a per-kilo average price of NOK 76.19 (USD 7.41, EUR 6.78), a decline of NOK 4.20 (USD 0.41, EUR 0.37). The 4- to 5-kilogram category comprised 26.40 percent of total sales, and the average price declined NOK 4.65 (USD 0.45, EUR 0.41) from last week. Norwegian salmon weighing between 5 and 6 kilograms, representing 19.18 percent of total sales, reached an average per-kilo price of NOK 86.51 (USD 8.40, EUR 7.68) down NOK 13.02 (USD 1.26, EUR 1.16).

Fish Pool reported futures trending flat for the foreseeable future. August's future pricing increased week-over-week to NOK 74.20 (USD 7.20, EUR 6.59), as did September's at NOK 72.30 (USD 7.15, EUR 6.46).

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