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Week Over Week Surge: Norwegian Salmon Prices Increase by Over 7%

In the eighth week of 2024, Norwegian salmon prices experienced a notable increase of 7.53 percent compared to the previous week, following a period of stability. According to data from the Nasdaq Salmon Index, which tracks weekly sales updates and provides a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway, the average per-kilogram price rose from NOK 108.52 (USD 10.52, EUR 9.46) to NOK 116.69 (USD 11.02, EUR 10.17). This uptick reflects a rise of NOK 8.17 (USD 0.77, EUR 0.71) in price.

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Week Over Week Surge: Norwegian Salmon Prices Increase by Over 7%
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The latest data from the Nasdaq Salmon Index reveals significant fluctuations in Norwegian salmon prices over recent weeks. The average per-kilo price surged by NOK 11.27 (USD 1.06, EUR 0.98) in the past four weeks and by NOK 32.96 (USD 3.11, EUR 2.87) over the past 12 weeks.
In the eighth week of 2024, the distribution of salmon sales across different weight categories experienced noteworthy changes. While some categories witnessed price increases, others saw declines. For instance, salmon weighing between 2 and 3 kilograms recorded a notable week-over-week price rise of NOK 6.06 (USD 0.57, EUR 0.53), reaching an average of NOK 96.06 (USD 9.07, EUR 8.37).
Meanwhile, futures pricing for February slightly increased to NOK 114.50 (USD 10.81, EUR 9.96) from NOK 112 (USD 10.66, EUR 9.86), as reported by the European salmon exchange Fish Pool. Notably, the Norwegian Salmon Council's weekly report highlighted a decline in seafood exports, with the country exporting 10,751 metric tons (MT) of salmon and trout in the eighth week of 2024, down from 13,738 MT compared to the same period last year. European countries remained the largest market for Norwegian salmon, with France, Poland, Spain, Denmark, Italy, the Netherlands, and the U.K. being key importers. Additionally, China and the U.S. received notable quantities of Norwegian salmon during the week.
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