Week-over-week average Norwegian salmon prices declined by NOK 2.42 (USD 0.23, EUR 0.21), or just over 2 percent, in the ninth week of 2024, after increasing 7.53 percent the week prior.
According to the Nasdaq Salmon Index, which provides weekly sales updates and a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway, the average per-kilogram price of Norwegian salmon in the ninth week of 2024 reached NOK 114.27 (USD 10.89, EUR 9.99), dropping 2.07 percent from NOK 116.69 (USD 11.02, EUR 10.17) the week before.
Despite the drop, the index also reported that the average per-kilo price of Norwegian salmon is up by NOK 7.90 (USD 0.75, EUR 0.69), or 7.43 percent, over the past four weeks and up NOK 30.45 (USD 2.91, EUR 2.66), or 36.33 percent, over the past 12 weeks.
Salmon between 1 and 2 kilograms accounted for 0.81 percent of total sales during the week and reached an average price of NOK 76.98 (USD 7.35, EUR 6.74), marking a slight jump from week 8's NOK 76.76 (USD 7.25, EUR 6.69) per kilogram. Salmon between 2 and 3 kilograms comprised 22.78 percent of total sales and sold for an average of NOK 97.99 (USD 9.35, EUR 8.58) from the prior week's NOK 96.06 (USD 9.07, EUR 8.37), totaling a NOK 1.93 (USD 0.18, EUR 0.17) increase week over week.
Salmon in the 3- to 4-kilogram range comprised 26.36 percent of total fish sold and had a per-kilo average price of NOK 111.94 (USD 10.68, EUR 9.80), rising just slightly from the prior week's NOK 111.42 (USD 10.52, EUR 9.71).
The 4- to-5-kilogram category, comprising 20.83 percent of total sales had its average week-over-week per-kilo price increase by NOK 2.39 (USD 0.23, EUR 0.21), reaching NOK 121.19 (USD 11.57, EUR 11.56) from week 8's NOK 118.80 (USD 11.22, EUR 10.35).
Norwegian salmon between 5 and 6 kilograms made up 20.57 percent of sales, and prices in the category increased NOK 1.95 (USD 0.19, EUR 0.17) to reach NOK 126.67 (USD 12.08, EUR 11.08) from the prior week's NOK 124.71 (USD 11.77, EUR 10.86).
Salmon in the 6- to 7-kilogram category made up 6.5 percent of total sales and sold for an average of NOK 121.65 (USD 11.60, EUR 10.64), which is down from the NOK 126.66 (USD 11.96, EUR 11.03) reported the week before.
Salmon weighing between 7 and 8 kilograms reached an average per-kilo price of NOK 120.56 (USD 11.48, EUR 10.54), which is down from the prior week's NOK 129.86 (USD 12.26, EUR 11.31), while salmon prices in the 8- to 9-kilogram range declined by NOK 15.43 (USD 1.47, EUR 1.35) to reach NOK 128.17 (USD 12.22, EUR 11.21) from week 8's NOK 143.60 (USD 13.56, EUR 12.51).
The average futures pricing for the rest of February increased slightly to NOK 114.69 (USD 10.93, EUR 10.03) from the NOK 114.50 (USD 10.81, EUR 9.96) reported in week 8 of 2024, European salmon exchange Fish Pool reported. March's futures pricing, according to the exchange, slightly declined to NOK 112.50 (USD 10.72, EUR 9.83) from NOK 112.70 (USD 10.72, EUR 9.93), while both April's and May’s futures prices remained flat at NOK 117 (USD 11.04, EUR 10.19). June’s predicted future prices declined to NOK 110.90 (USD 9.52, EUR 8.79).
Q2 2024 futures pricing remained unchanged week over week, sitting steady at NOK 114.97 (USD 10.85, EUR 10.01).
The Norwegian Salmon Council's weekly report on Norwegian seafood exports showed the country exported 13,025 metric tons (MT) of salmon and trout in the ninth week of 2024, which is up from 10,751 metric tons (MT) week over week but down from the 15,083 MT the country exported in the same week of 2023.
The largest market for Norwegian salmon was European countries, which bought 9,642 MT, marking an increase compared to 7,489 MT reported the previous week.
Poland received 1,752 MT, up week over week from 1,204 MT; Denmark imported 1,747, marking an increase from 980 MT; France imported 1,126 MT – less than week 8's 1,235 MT; the Netherlands imported 1,113 MT, which is up from the prior week’s 694 MT; Spain imported 1,107 MT – up from 1,004 MT; Italy imported 972 MT, marking a jump from 882 MT week over week; and the U.K. imported 684 MT, which is down from 694 MT.
China received 620 MT, which is more than the 564 MT from week 8, and the U.S. imported 46 MT, buying less than the 53 MT recorded the week before.
