February 26, 2024

Norwegian salmon prices remain steady, futures indicate moderate shifts

Norwegian salmon prices have stabilised in the seventh week of 2024, maintaining a relatively steady trajectory after recent fluctuations, SeafoodSource reported.

According to the Nasdaq Salmon Index, the average per-kilogram price of Norwegian salmon slightly decreased to NOK 108.52 (US$10.33), marking a marginal decline from the previous week's figures.

Despite this minor dip, the overall trend in salmon pricing remains upward, with a notable increase observed over the past four weeks. Salmon prices have risen by NOK 10.99 (US$1.05) over this period, indicating a significant surge in demand and market value.

In terms of size categories, salmon between 2 and 3 kg experienced a slight price increase, while larger-sized salmon witnessed varying degrees of price fluctuations. Notably, salmon between 7 and 8 kg saw the most significant decline in price compared to the previous week.

Looking ahead, futures pricing for February has seen a slight uptick, while March's futures have declined marginally. Q2 2024 futures pricing also experienced a slight decrease, reflecting market adjustments and anticipated demand shifts in the coming months.

Meanwhile, Norwegian seafood exports, particularly salmon and trout, have seen a moderate decrease compared to the previous week. Despite this decline, European countries remain the largest importers of Norwegian salmon, with notable volumes exported to Poland, Denmark, France, the Netherlands, Spain, Italy, and the UK.

Exports to non-European markets, such as China and the US, have also witnessed fluctuations, indicating dynamic shifts in global demand for Norwegian salmon.

-      SeafoodSource