China has doubled its purchases of Norwegian salmon in 2023

Norwegian salmon prices bounced back in the 27th week of 2023, rising 3.36 percent from last week. 

The average per-kilogram price for farmed Norwegian Atlantic salmon increased NOK 2.97 (USD 0.29, EUR 0.26) to NOK 91.20 (USD 8.97, EUR 8.09), after rising 5.5 percent last week, according to the Nasdaq Salmon Index, which provides weekly sales updates and a weighted average price for fresh, head-on gutted Atlantic superior salmon from Norway. 

Still, the price averages declined over the past four weeks by 16.31 percent, or NOK 17.78 (USD 1.75, EUR 1.58), and over the past 12 weeks by 23.52 percent, or NOK 28.04 (USD 2.77, EUR 2.49).

Fish Pool found 2- to 3-kilogram fish accounted for 17.45 percent of all sales and sold for a per-kilo average of NOK 69.83 (USD 6.86, EUR 6.19), a decline of NOK 2.26 (USD 0.22, EUR 0.20). The highest percentage of sales went to 3- to 4-kilo salmon, which made up 27.06 percent of all fish sold, and had a per-kilo average price of NOK 85.78 (USD 8.43, EUR 7.60), a drop of NOK 0.04 (USD 0.58, EUR 0.44). The 4- to 5-kilogram category made up 25.62 percent of all sales, and the average price increased NOK 5.00 (USD 0.49, EUR 0.68) from last week’s NOK 90.42 (USD 8.92, EUR 8.02). Norwegian salmon weighing between 5 and 6 kilograms, representing 16.52 percent of total sales, reached an average per-kilo price of NOK 107.90 (USD 10.66, EUR 9.58) up NOK 9.40 (USD 0.93, EUR 0.83).

Collectively, Norwegian exports shipped a total of 19,220 MT of Atlantic salmon in week 27, up from 16,656 MT in the same week in 2022 and up from 17,238 MT in week 26.

Fish Pool reported July futures trending upward at NOK 91.75 (USD 9.08, EUR 8.16) per kilogram, up from NOK 87.50 (USD 8.66, EUR 7.79) last week. August's future pricing was flat week-over-week at NOK 77.50 (USD 7.19, EUR 9.58), as was September at NOK 76.00 (USD 7.52, EUR 6.76).

Through the first five months of 2023, Norway exported 17,697 MT of salmon worth NOK 2.46 billion (USD 243 million, EUR 218 million) to China. That's double what China had imported in the same time period in 2022 and 2021, when China had clamped down on seafood imports due to its zero-Covid policy, according to NRK.

“China is Norway’s most important Asian trading partner and is constantly increasing in importance as a seafood market, but it is a demanding market,” Norwegian Seafood Council Managing Director Christian Chramer said.

Photo courtesy of Norwegian Salmon Council