Norwegian salmon prices up slightly in 36th week of 2023

The Nasdaq Salmon Index reported the average price of a kilogram of Atlantic salmon farmed in Norway increased slightly to NOK 71.96 (USD 6.73, EUR 6.27), up NOK 1.54 (USD 0.14, EUR 0.13), up 2.19 percent, week-over-week compared to week 35.

Fish Pool reported Norway exported 25,523 MT of salmon in week 36 of 2023, up from 25,032 MT in the corresponding week of 2022. The figure was also up from the 25,260 MT Norwegian suppliers exported overseas in the previous week.

The Nasdaq index provides weekly sales updates and a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway. Over the past four weeks, the index reported the average price dropped 3 percent, or NOK 2.23 (USD 0.21, EUR 0.19). Over the past 12 weeks, average Norwegian salmon prices have declined 21.24 percent, or NOK 19.41 (USD 1.81, EUR 1.69).

By weight class, 1- to 2-kilogram salmon accounted for 1.62 percent of sales, and average prices declined from NOK 2.48 (USD 0.23, EUR 0.22) to NOK 52.33 (USD 4.89, EUR 4.55). Two-to-3-kilogram salmon accounted for 9.27 percent of all sales and sold for an average of NOK 62.82 (USD 5.86, EUR 5.46), up NOK 0.39 (USD 0.36, EUR 0.34). Three- to 4-kilogram salmon made up 27.55 percent of all fish sold and had a per-kilogram average price of NOK 69.93 (USD 6.53, EUR 6.08), an increase of NOK 1.03 (USD 0.10, EUR 0.09). 

The 4- to 5-kilogram category, comprising 33.25 percent of total sales, saw its average price boost NOK 1.79 (USD 0.17, EUR 0.16) from week 35. Norwegian salmon weighing between 5 and 6 kilograms, representing 18.79 percent of total sales reached an average per-kilogram price of NOK 74.20 (USD 6.93, EUR 6.46) and increased NOK 2.12 (USD 0.20, EUR 0.18).  

Fish Pool reported August's futures pricing increased week-over-week to NOK 73.50 (USD 6.96, EUR 6.36) from NOK 73.00 (USD 6.91, EUR 6.32) last week, and futures pricing for September declined to NOK 69.75 (USD 6.60, EUR 6.04) from last week’s NOK 70.45 (USD 6.63, EUR 6.12).

October forward prices have remained the same in recent weeks at NOK 72.00 (USD 6.73, EUR 6.27). November's futures pricing also remained the same at NOK 76.50 (USD 7.15, EUR 6.66). December's prices remained flat at NOK 86.30 (USD 8.07, EUR 7.51). Futures pricing for Q4 2023 also remained the same at NOK 78.27 (USD 7.31, EUR 6.81).

Photo courtesy of Lerøy Seafood