Norwegian salmon prices experience 6.32 percent decline week-over-week

Norwegian salmon prices dipped an average of 6.32 percent in the 29th week of 2023, according to the Nasdaq Salmon Index.

The average price of a kilogram of Atlantic salmon farmed in Norway dropped NOK 5.76 (USD 0.57, EUR 0.51) to NOK 85.26 (USD 8.42, EUR 7.60) compared to week 28.

The index, which provides weekly sales updates and a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway, reported that over past four weeks, average prices increased 1.95 percent or NOK 1.63 (USD 0.16, EUR 0.15). Over the past 12 weeks, salmon prices have dropped 22.55 percent, or NOK 24.83 (USD 2.45, EUR 2.22).

Norway exported a total of 17,898 MT of Atlantic salmon in the 29th week of 2023, down from 18,927 MT from the corresponding week in 2022, and slightly higher than the 17,844 MT seen in week 28, Fish Pool reported.

Prices for 1-to 2-kilogram salmon jumped  NOK 6.02 (USD 0.59, EUR 0.54) and accounted for 4.69 percent of sales in the week. Two- to 3-kilogram fish, which accounted for 14.43 percent of all sales, sold for a per-kilo average of NOK 69.93 (USD 6.91, EUR 6.24), a decline of NOK 1.21 (USD 0.12, EUR 0.11). Three- to 4-kilo salmon, which made up 27.79 percent of all fish sold, and had a per-kilo average price of NOK 80.39 (USD 7.94, EUR 7.18), a decline of NOK 6.13 (USD 0.61, EUR 0.55).  The 4- to 5-kilogram category made up 28.1 percent of total sales, and the average price declined NOK 12.10 (USD 1.20, EUR 1.08) from last week at NOK 96.94 (USD 9.66, EUR 8.63). Norwegian salmon weighing between 5 and 6 kilograms, representing 19.13 percent of total sales, reached an average per-kilo price of NOK 99.53 (USD 9.85, EUR 8.89) down NOK 13.91 (USD 1.38, EUR 1.24).

Fish Pool also reported futures trending flat for the foreseeable future. August's future pricing remained flat week-over-week to NOK 73.70 (USD 7.29, EUR 6.59), as did September's at NOK 72.30 (USD 7.15, EUR 6.46).

Photo courtesy of Sergey Melkonov/Shutterstock