Norwegian salmon prices rise, sales remain steady

Norwegian salmon prices are on the rise again.

According to the Nasdaq Salmon Index, the average price of a kilogram of Atlantic salmon farmed in Norway rose to NOK 73.85 (USD 6.90, EUR 6.44), up NOK 1.89 (USD 0.18, EUR 0.16), up 2.63 percent, over the past week. 

The Nasdaq index provides weekly sales updates and a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway. 

In week 37 of 2023, Norway exported a total of 25,480 MT of salmon, up from 25,816 MT in the corresponding week of 2022. The figure was slightly down from the 25,523 MT Norwegian suppliers exported overseas in week 36.

The index reported the average per-kilo salmon price have increased 0.63 percent, or NOK 0.46 (USD 0.04, EUR 0.04) over the past four weeks. Norwegian salmon prices declined 11.7 percent, or NOK 9.78 (USD 0.91, EUR 0.85) over the past 12 weeks.

One- to 2-kilogram salmon accounted for 1.08 percent of total sales, with an average price of NOK 51.48 (USD 4.82, EUR 4.49). Two-to-3-kilogram salmon accounted for 12.22 percent of total sales and sold for an average of NOK 64.11 (USD 6.00, EUR 5.59), up NOK 1.29 (USD 0.12, EUR 0.11). Three- to 4-kilogram salmon made up 28.79 percent of all fish sold and had a per-kilogram average price of NOK 72.54 (USD 6.78, EUR 6.32), an increase of NOK 2.61 (USD 0.24, EUR 0.23). The 4- to 5-kilogram category, comprising 30.13 percent of total sales, saw its average price boost NOK 2.74 (USD 0.26, EUR 0.24) from last week. Salmon weighing between 5 and 6 kilograms, representing 21.14 percent of total sales, reached an average per-kilogram price of NOK 76.50 (USD 7.14, EUR 6.67), up NOK 2.30 (USD 0.21, EUR 0.20).  

Futures pricing for October increased to NOK 74.00 from last week’s NOK 72.00 (USD 6.63, EUR 6.12), Fish Pool reported. November's futures pricing also increased to NOK 77.25 (USD 7.21, EUR 6.73) from NOK 76.50 (USD 7.15, EUR 6.66). December future prices declined to NOK 85.75 to (USD 8.01, EUR 7.47) from last week’s at NOK 86.30 (USD 8.06, EUR 7.52). Futures pricing for Q4 2023 has increased to NOK 78.27 (USD 7.31, EUR 6.82).

Photo courtesy of Lerøy Seafood