Average Norwegian salmon prices dropped NOK 3 (USD 0.28, EUR 0.26) week over week, or 2.71 percent, in the 11th week of 2024, according to the Nasdaq Salmon Index, a database that 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 11th week of 2024 reached NOK 107.88 (USD 10.11, EUR 9.32), dropping 2.71 percent from the NOK 110.89 (USD 10.39, EUR 9.58) recorded the week before.
The index reported average per-kilo prices of Norwegian salmon are down by NOK 0.63 (USD 0.06, EUR 0.05), or 0.58 percent, over the past four weeks and up NOK 23.28 (USD 2.18, EUR 2.01), or 27.52 percent, over the past 12 weeks, strecthing back to late 2023.
Salmon between 1 and 2 kilograms accounted for 0.5 percent of total sales during the 11th week of 2024 and reached an average price of NOK 75.41 (USD 7.07, EUR 6.52), marking an increase from week 10's NOK 72.12 (USD 6.76, EUR 6.23) per kilogram. Salmon between 2 and 3 kilograms comprised 8.26 percent of total sales and sold for an average of NOK 97.15 (USD 9.11, EUR 8.39), up from the prior week's NOK 96.01 (USD 9.00, EUR 8.30).
Salmon in the 3- to 4-kilogram range comprised 21.83 percent of total fish sold and had a per-kilo average price of NOK 106.03 (USD 9.95, EUR 9.16), dropping slightly from the prior week's NOK 108.47 (USD 10.18, EUR 9.38).
The 4- to-5-kilogram category, comprising 27.93 percent of total sales, had its average week-over-week per-kilo price decline by NOK 6.57 (USD 0.62, EUR 0.57), reaching NOK 108.97 (USD 9.95, EUR 9.17) compared to week 10's NOK 115.54 (USD 10.85, EUR 9.99).
Norwegian salmon between 5 and 6 kilograms made up 24.12 percent of sales, and prices in the category decreased NOK 8.63 (USD 0.81, EUR 0.75) to reach NOK 112.10 (USD 10.52, EUR 9.69) from week 10's NOK 120.73 (USD 11.32, EUR 10.43).
Salmon in the 6- to 7-kilogram category made up 9.6 percent of total sales and sold for an average of NOK 110.70 (USD 10.38, EUR 9.57), which is down week over week from NOK 116.55 (USD 10.93, EUR 10.07).
Salmon that weighed between 7 and 8 kilograms reached an average per-kilo price of NOK 106.19 (USD 9.96, EUR 9.18), which is down from the week 10's NOK 113.74 (USD 10.67, EUR 9.83), while salmon prices in the 8- to 9-kilogram range declined by NOK 13.62 (USD 1.28, EUR 1.18) to reach NOK 105.07 (USD 9.85, EUR 9.08).
As for average futures pricing of Norwegian salmon, they are predicted to stay flat for the foreseeable future, the European salmon exchange Fish Pool said. March's futures pricing is reported at NOK 110.50 (USD 10.36, EUR 9.55), while April's future price is estimated to reach NOK 116.50 (USD 10.92, EUR 10.07). May’s prices, meanwhile, are likely to stay flat week over week at NOK 117 (USD 11.04, EUR 10.19). June’s predicted future prices remain the same at NOK 110.90 (USD 9.52, EUR 8.79).
Q2 2024 futures pricing is sitting at 114.80 (USD 10.75, EUR 9.91) week over week, while Q3 is reported flat at NOK 85.85 (USD 8.04, EUR 7.41) and Q4 at NOK 87.65 (USD 8.21, EUR 7.57).
The Norwegian Salmon Council's weekly report on Norwegian seafood exports showed the country exported 14,708 metric tons (MT) of salmon and trout in the 11th week of 2024, which is up from the 14,550 metric tons (MT) week over week and up from the 13,880 MT the country exported in the same week of 2023.
Norwegian salmon’s largest market remained European countries, which bought 10,790 MT, marking a decrease compared to 11,205 MT reported the previous week.
Poland received 2,185 MT, up week over week from 1,858 MT; Denmark imported 1,560 MT, marking a decrease from 5,569 MT; France imported 1,548 MT – more than week 10's 1,328 MT; Italy imported 1,195 MT, marking a jump from 1,127 MT; Spain imported 1,169 MT – up from 1,140 MT; the Netherlands imported 1,147 MT, which is up from the prior week’s 1,077 MT; and the U.K. imported 969 MT, which is up from 819 MT.
China received 895 MT, which is more than the 522 MT from week 10, and the U.S. imported 128 MT, buying more than the 32 MT recorded the week before.
