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Salmon Market Insights: Week 20, 2024
In the latest data from the Nasdaq Salmon Index, tracking fresh, head-on gutted Atlantic superior salmon from Norway, prices have shown a steady trajectory. Over the past four weeks, average prices have surged by 1.81%, and over the last 12 weeks, there's been a notable increase of nearly 10.79%.
Breaking down the sales distribution during the 20th week of 2024, salmon weighing between 1 and 2 kilograms comprised 0.96% of total sales, with an average price of NOK 84.84, experiencing a slight dip from the previous week. Similarly, salmon between 2 and 3 kilograms, which accounted for 9.17% of sales, saw a marginal decrease in price. However, in the 3- to 4-kilogram range, comprising 24.25% of total sales, prices witnessed a modest increase.
Of significant note, salmon in the 4- to 5-kilogram category, representing 24.40% of total sales, experienced a noteworthy week-over-week price rise, as did salmon between 5 and 6 kilograms, which made up 26.06% of sales. Conversely, salmon weighing between 6 and 7 kilograms saw a slight decrease in price.
Looking at the international market predictions, Fish Pool forecasts an upward trend in futures pricing for May and June, with increases also noted for Q3 and Q4 2024.
Meanwhile, the Norwegian Salmon Council's report on seafood exports highlighted a surge in salmon exports to various European nations. Notably, Denmark, Poland, and the Netherlands saw increased imports, while Spain, France, and Italy experienced slight declines compared to the previous week. China and the U.S. also maintained their positions as importers of Norwegian salmon, albeit with minor fluctuations in volumes.
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