Norwegian salmon exports steady as prices rise 1 percent

Over the past 12 weeks, Norwegian salmon prices have declined 12.2 percent. But over the past month, they're up by almost 10 percent, including a 1 percent incline in the past week, according to the the Nasdaq Salmon Index, which provides weekly sales updates and a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway. 

According to the Nasdaq Salmon Index, the average price of a kilogram of Atlantic salmon farmed in Norway rose to NOK 0.77 (USD 0.01, EUR 0.01) over the past week. 

In week 40 of 2023, Norway exported a total of 25,979 MT of salmon, up from 24,934 MT in the corresponding week of 2022, and up slightly from the 25,523 MT Norwegian suppliers exported overseas in week 39.

The index reported the average per-kilo salmon price has increased NOK 6.82 (USD 0.63, EUR 0.59) over the past four weeks, but have declined NOK 13.44 (USD 1.24, EUR 1.17) over the past 12 weeks.

According to the Norwegian Salmon Council's weekly report on Norwegian seafood exports, the largest volume of salmon was exported to the E.U., with 20,757 MT shipped in week 40 of 2023. In Europe, Poland received 6,304 MT; Denmark received 3,042 MT; the Netherlands took in 2,278 MT; France imported 2,141 MT, Spain received 1,515 MT; Italy received 1,403 MT; the United Kingdom accepted 1,218 MT, Lithuania received 1,082 MT, and Germany imported 1,015 MT. 

China received 719 MT worth of salmon and trout from Norwegian, and the U.S. imported 619 MT. 

One- to 2-kilogram salmon accounted for 0.93 percent of total sales, with an average price of NOK 54.42 (USD 5.02, EUR 4.72). Two-to-3-kilogram salmon accounted for 21.43 percent of total sales and sold for an average of NOK 68.90 (USD 6.35, EUR 5.98), up NOK 2.17 (USD 0.20, EUR 0.19). Three- to 4-kilogram salmon made up 24.27 percent of all fish sold and had a per-kilogram average price of NOK 80.31 (USD 7.40, EUR 6.97), an increase of NOK 2.35 (USD 0.22, EUR 0.20). The 4- to 5-kilogram category, comprising 23.34 percent of total sales, saw its average price boost NOK 1.64 (USD 0.15, EUR 0.14) from last week. Salmon between 5 and 6 kilograms, representing 20.13 percent of total sales, reached an average per-kilogram price of NOK 82.81 (USD 7.63, EUR 7.19), up NOK .31 (USD 0.01, EUR 0.01). 6 to 7-kilogram salmon, which accounted for 7.43 percent of the total distribution sold for an average of NOK 82.12 (USD 7.57, EUR 7.13). Over one week, the salmon weighing between 7 and 8 kilograms declined NOK 20.59 (USD 1.90, EUR 1.79). 

Fish Pool reported November's futures pricing 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 (USD 8.01, EUR 7.47) from last week’s 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