December 9, 2023

Norwegian salmon exports surge amid rising prices

Norway experienced a notable surge in salmon exports in the 48th week of 2023, reaching 22,910 metric tonnes (MT), an increase from the 22,316 MT exported during the same period in 2022 and a slight uptick from the 22,141 MT in week 47 of 2023, according to the Oslo Børs Fish Pool Price Status, SeafoodSource reported.

The average price per kilogram of Atlantic salmon, a key component of Norway's seafood exports, saw a significant rise of NOK 5.18 (US$0.47) over the past week. This increase, amounting to 6.59%, is based on data from The Nasdaq Salmon Index, reflecting growing market dynamics.

According to the Norwegian Salmon Council's weekly report, the country exported a total of 22,963 MT of salmon and trout in the same week. The European Union remained a significant market, receiving 17,472 MT, slightly less than the 17,721 MT in the corresponding week of the previous year.

Noteworthy import volumes in Europe included Poland (4,438 MT), France (2,663 MT), Denmark (2,138 MT), the Netherlands (1,849 MT), the United Kingdom (1,521 MT), Spain (1,425 MT), and Italy (1,365 MT). Outside of Europe, China received 856 MT, while the United States imported 439 MT.

The distribution of salmon across different weight categories showed varied trends. Salmon weighing between one to two kilograms represented 0.26% of total sales, with an average price increase to NOK 71.33 (US$6.52). The 2-3 kilogram category, comprising 9.46% of total sales, witnessed an average price of NOK 76.36 (US$6.98).

Salmon in the 3-4 kilogram and 4-5 kilogram ranges constituted 26.43% and 31.42% of total sales, respectively, with average prices experiencing positive trends. The price of salmon weighing between 5 and 6 kilograms reached NOK 85.51 (US$7.81), indicating an increase.

Future pricing projections remained stable for December at NOK 85.50 (US$8.02) and showed consistency for the following months.

-      SeafoodSource