Norway salmon volumes down, price slightly up

The spot price of Norwegian farmed salmon rose very slightly last week (week 5), up by 95 øre to NOK 105.62 (£7.91) per kilo, as Storm Ingunn prevented farmers harvesting as many fish as they had planned.

The price is NOK 14.83/kg over the same week in 2023, although it should also be noted that the Norwegian krone is 6% weaker against the euro than a year ago, which pushes the NOK price up and means the ‘real terms’ price increase is lower.

The average spot price so far this year is NOK 104.85/kg, compared to NOK 90.03/kg a year ago.

Exports

Norway exported 21,900 tonnes (round weight) of salmon in week 5, which is the lowest weekly volume in a week unaffected by public holidays since week 11 last year. The explanation lies largely in the fact that the storm prevented several farmers from harvesting fish.

The export volume was 10.9% below the same week last year.

So far this year, 111,631 tonnes have been exported, 6.8% below the corresponding period in 2023.