Norwegian salmon prices take abrupt dip

Prices for Norwegian salmon have dipped an average of NOK 7.16 (USD 0.69, EUR 0.63) week-on-week, according to the Nasdaq Salmon Index.

The weighted average index of weekly sales prices and volumes of fresh Atlantic superior salmon, head-on gutted – reported by a panel of Norwegian salmon exporters and salmon producers – found the average per-kilogram price of Norwegian salmon had backtracked to NOK 111.24 (USD 10.66, EUR 9.77) in the thirteenth week of 2023 – showing a sudden drop in prices.

After a steady climb to near-record prices, the decline began last week, as average prices dropped 7 percent, or NOK 8.88 (USD 0.85, EUR 0.78), to NOK 118.40 (USD 11.33, EUR 10.39) from NOK 127.28 (USD 12.18, EUR 11.16), Nasdaq reported.

However, current average prices are still way beyond the per-kilogram average from a year ago, when they averaged NOK 82.97 (USD 7.95, EUR 7.28).

The dip in prices has impacted sales volumes. According to Fish Pool, reported total sales volume for Norwegian salmon exporters in the thirteenth week of 2023 increased 15.8 percent, or 2,186 metric tons (MT), compared to the prior week. That number is also down 6.7 percent, or 1,157 MT, from the corresponding week in 2022. Over the past five weeks, volumes have decreased 12.9 percent, or 10,911 MT, compared to the corresponding period of 2022. 

Photo courtesy of Boonchuay1970/Shutterstock