The average per-kilogram price of Norwegian salmon reached NOK 135.28 (USD 12.46, EUR 11.61) in week 14 of 2024, jumping 6.6 percent from the previous week’s average price of NOK 126.90 (USD 11.79, EUR 10.91).
The European salmon exchange Fish Pool reported that average prices have increased 22 percent over the past four weeks and nearly 30 percent over the past 12 weeks.
Salmon between 1 and 2 kilograms accounted for 0.25 percent of total sales during the 14th week of 2024 and reached an average price of NOK 103.37 (USD 9.54, EUR 8.88), an increase from week 13's NOK 84.23 (USD 7.85, EUR 7.25).
Salmon between 2 and 3 kilograms comprised 7.14 percent of total sales and sold for an average of NOK 119.60 (USD 11.04, EUR 10.28), which is higher than the prior week’s NOK 112.36 (USD 10.48, EUR 9.68).
Salmon in the 3- to 4-kilogram range comprised 22.76 percent of total fish sold and had a per-kilo average price of NOK 132.37 (USD 12.22, EUR 11.38), which is higher than week 13’s NOK 122.88 (USD 11.46, EUR 10.56).
The 4- to-5-kilogram category, comprising 26.34 percent of total sales during week 14, had its average week-over-week per-kilo price increase by NOK 10.06 (USD 0.93, EUR 0.86), reaching NOK 136.22 (USD 12.58, EUR 11.70), up from last week’s NOK 126.16 (USD 11.77, EUR 10.87).
Norwegian salmon between 5 and 6 kilograms made up 24.64 percent of sales, and prices in the category increased NOK 8 (USD 0.74, EUR 0.69) week over week to reach NOK 138.84 (USD 12.82, EUR 11.93).
Salmon in the 6- to 7-kilogram category made up 14.68 percent of total sales and sold for an average of NOK 139.94 (USD 12.92, EUR 12.02), up from the previous week’s NOK 133.38 (USD 12.44, EUR 11.48).
Salmon weighing between 7 and 8 kilograms, which accounted for 3.84 percent of total distribution, reached an average per-kilo price of NOK 137.98 (USD 12.73, EUR 11.85), an increase from week 13’s NOK 131.97 (USD 12.31, EUR 11.36). Salmon in the 8- to 9-kilogram range comprised 0.33 percent of sales and increased in price week over by NOK 3.13 (USD 0.29, EUR 0.27), to reach NOK 137.01 (USD 12.65, EUR 11.77), up from the past week’s price of NOK 133.88 (USD 12.48, EUR 11.53).
Fish Pool also predicts the average futures pricing of Norwegian salmon and slated April's futures pricing to reach an estimated NOK 124 (USD 11.44, EUR 10.65), up from last week’s 117.50 (USD 10.98, EUR 10.12). May’s prices are predicted to decline to NOK 114.95 (USD 10.61, EUR 9.87) from the NOK 117 (USD 11.04, EUR 10.19) predicted in week 13. June’s predicted futures pricing remains the same as reported in week 13 at NOK 110.90 (USD 9.52, EUR 8.79).
Q2 2024 futures pricing predictions increased to NOK 117.30 (USD 10.83, EUR 10.08), up from the prior week’s prediction of NOK 115.13 (USD 10.77, EUR 9.91), and Q3 has also increased to NOK 87.37 (USD 8.07, EUR 7.51) from week 13’s prediction of NOK 87.27 (USD 8.06, EUR 7.50). Q4's futures pricing, meanwhile, now stands at a predicted NOK 87.37 (USD 8.07, EUR 7.51), down from the prior week's prediction of NOK 88.73 (USD 8.30, EUR 7.64).
The Norwegian Salmon Council's weekly report on Norwegian seafood exports showed the country exported 11,687 metric tons (MT) in the 14th week of 2024, which is up from the prior week's 9,516 MT but down from the 11,796 MT exported in week 14 of 2023.
European nations maintained their spot as the primary market for Norwegian salmon, purchasing 8,505 MT of the product, which is higher than week 13's 6,682 MT.
Denmark imported 1,880 MT, higher than the previous week’s 1,530 MT; Poland purchased 1,334 MT, higher than the 864 MT from the prior week; Spain imported 1,134 MT, up from 787 MT; France imported 1,051 MT, up from 1,018 MT; Italy imported 920 MT, up from 541 MT; the Netherlands imported 818 MT, down from week 13's 989 MT; and the U.K. imported 546 MT, up from week 13’s 492 MT.
Elsewhere, China received 609 MT of Norwegian salmon, which is more than week 13's 512 MT, and the U.S. imported 35 MT, lower than the 48 MT from the previous week.
