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Norwegian Salmon Prices Experience Slight 2% Decline in Ninth Week of 2024

In the ninth week of 2024, week-over-week average Norwegian salmon prices witnessed a decline of NOK 2.42 (equivalent to USD 0.23 or EUR 0.21), representing a decrease of just over 2 percent. This comes after a notable 7.53 percent increase in the preceding week.

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Norwegian Salmon Prices Experience Slight 2% Decline in Ninth Week of 2024
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According to the Nasdaq Salmon Index, the average per-kilogram price of Norwegian salmon in the ninth week of 2024 dropped by 2.07 percent to NOK 114.27 (USD 10.89, EUR 9.99) from NOK 116.69 (USD 11.02, EUR 10.17) the previous week.
Despite this decline, the index reported a cumulative increase in the average per-kilogram price of Norwegian salmon over the past four weeks, rising by NOK 7.90 (USD 0.75, EUR 0.69), or 7.43 percent, and over the past 12 weeks, up by NOK 30.45 (USD 2.91, EUR 2.66), or 36.33 percent.
Notable trends in various weight categories include:
  • Salmon weighing between 1 and 2 kilograms, comprising 0.81 percent of total sales, saw a slight increase in average price to NOK 76.98 (USD 7.35, EUR 6.74) from the previous week's NOK 76.76 (USD 7.25, EUR 6.69) per kilogram.
  • Salmon between 2 and 3 kilograms, accounting for 22.78 percent of total sales, experienced a week-over-week price increase to NOK 97.99 (USD 9.35, EUR 8.58) from NOK 96.06 (USD 9.07, EUR 8.37).
  • Salmon in the 3- to 4-kilogram range, comprising 26.36 percent of total sales, maintained a slight increase in average price to NOK 111.94 (USD 10.68, EUR 9.80) from the previous week.
  • The 4- to-5-kilogram category, making up 20.83 percent of total sales, witnessed an average week-over-week price increase to NOK 121.19 (USD 11.57, EUR 11.56) from NOK 118.80 (USD 11.22, EUR 10.35).
  • Norwegian salmon between 5 and 6 kilograms, accounting for 20.57 percent of sales, saw prices increase to 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, comprising 6.5 percent of total sales, sold for an average of NOK 121.65 (USD 11.60, EUR 10.64), down from the previous week's NOK 126.66 (USD 11.96, EUR 11.03).
  • Salmon weighing between 7 and 8 kilograms had an average per-kilo price of NOK 120.56 (USD 11.48, EUR 10.54), a decline from the previous week's NOK 129.86 (USD 12.26, EUR 11.31).
  • Salmon prices in the 8- to 9-kilogram range decreased to NOK 128.17 (USD 12.22, EUR 11.21) from week 8's NOK 143.60 (USD 13.56, EUR 12.51).
Additionally, future pricing for February increased slightly, while March's futures pricing slightly declined. European countries remained the largest market for Norwegian salmon, with notable increases in exports to Poland, Denmark, and China compared to the previous week.
Overall, in the ninth week of 2024, Norway exported 13,025 metric tons (MT) of salmon and trout, marking an increase from the previous week but a decrease compared to the same week in 2023.
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