Second largest price drop ever for Norwegian salmon

The spot price of Norwegian salmon nosedived last week (week 24), dropping by NOK 17.16 (£1.26) per kilo to NOK 90.61/kg, according to industry statistics provider Akvafakta.

The fall is the second largest price drop in one week ever. The biggest fall was in week 19 last year, when the price fell by NOK 21.50/kg to NOK 99.80/kg.

The spot price is now down approximately 30% below this year’s peak of NOK 126.53/kg from week 11.

Week 24’s price is NOK 15.44 below the same week last year.

2023 average still strong

The average price so far this year is NOK 106.79/kg, compared to NOK 91.89/kg in the same period in 2022.

Norway exported 25,394 tonnes (round weight) of salmon in week 24, which is 10.2% more than in the same week last year.

So far this year, Norway has exported 552,000 tonnes of salmon, 3.6% less than last year.

Up to week 20, the industry had bought 554,000 tonnes of feed, 6% more than in the same period in 2022. Feed sales give an indication of biomass that fish farmers have in the sea.