{"id":20234,"date":"2024-04-19T14:03:49","date_gmt":"2024-04-19T14:03:49","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=20234"},"modified":"2024-04-19T14:07:08","modified_gmt":"2024-04-19T14:07:08","slug":"prices-of-norwegian-salmon-rise-by-41-in-3-months","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2024\/04\/19\/prices-of-norwegian-salmon-rise-by-41-in-3-months\/","title":{"rendered":"Prices of Norwegian salmon rise by 41% in 3 months"},"content":{"rendered":"\n

The prices of Norwegian salmon<\/u><\/a> have appreciated by 41%<\/u><\/a> in Q1 2024 in comparison to those of Q1 2023.<\/p>\n\n\n\n

The three-month appreciation has been driven by week by week marginal price increases. By week 2, April 2024, for instance, the average price had increased to NOK 137.41 ($12.41) per kg, up from NOK 135.28 ($12.22). <\/p>\n\n\n\n

Waning farmed salmon quantities is partially the reason for the export price rise. For example, quantities for week 1 of April 2024 dropped by 0.9% from the corresponding week in 2023. While shipments in week 1 of 2024 reached <\/u>11,687 tonnes<\/u><\/a>, those of week 1 of April 2023 had hit 11,796 tonnes.<\/p>\n\n\n\n

Sales in week 2 of April 2024 by size categories also weighed in, with all categories showing unit price increases.<\/p>\n\n\n\n

Salmon weighing 1 to 2 kilograms represented 0.7% of the sales and averaged NOK 104.52 ($9.45), up from week 1\u2019s NOK 103.37 ($9.34) a kg.<\/p>\n\n\n\n

Fish in the weight range of 4 to 5 kilos represented 26.04% of all sales. They sold at NOK 139.29 ($12.58) per kg, a hike from week 1\u2019s average of NOK 136.22 ($12.31) per kg. <\/p>\n\n\n\n

The largest salmon group weighing up to 7 kilograms apiece represented 12.94% of trade volume, during week 2 of April. Their price increased to a median NOK 139.94 ($12.65), up from week 1\u2019s average of NOK 133.38 ($12.05) a kg.<\/p>\n\n\n\n

Norwegian Salmon Futures Count In<\/strong><\/strong><\/h3>\n\n\n\n

Due to its affinity for long-term storage in frozen form, salmon<\/u><\/a> is among the few seafood produce that attract trade in futures. This means traders can hold onto a given quantity of salmon over time and await a price change<\/u><\/a> on the ground. <\/p>\n\n\n\n

As of April 2024, futures in Norwegian salmon were lower than the export price on the ground. \u00a0On April 18, the futures price was NOK 90.3 ($8.16), at a time when the export price was NOK 137.41 ($12.41).<\/p>\n\n\n\n

Futures predictions on April 18 2024, for Q2 2024, however, show an increase in trade prices to NOK 119.30 ($10.78) per kg.<\/p>\n\n\n\n

Norway Leads World Exports of Fresh Salmon<\/strong><\/strong><\/h3>\n\n\n\n

As speculators watch the price climb of Norwegian salmon, Norway continues its reign as the world\u2019s main supplier of salmon.<\/p>\n\n\n\n

In 2022, the country held a 48.3%<\/u><\/a> share in fresh or frozen salmon exports globally, worth NOK 100 billion ($9.044 billion).<\/p>\n\n\n\n

Norwegian salmon accounted for 70% <\/u><\/a>of all seafood exports from Norway in 2022 that were worth NOK151.4 billion ($13.7 billion). This explains why price monitoring is quite important in the salmon sector. <\/p>\n","protected":false},"excerpt":{"rendered":"

The prices of Norwegian salmon have appreciated by 41% in Q1 2024 in comparison to those of Q1 2023. The three-month appreciation has been driven by week by week marginal price increases. By week 2, April 2024, for instance, the average price had increased to NOK 137.41 ($12.41) per kg, up from NOK 135.28 ($12.22).  Waning farmed salmon quantities…<\/p>\n","protected":false},"author":3,"featured_media":20235,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"\nPrices of Norwegian salmon rise by 41% in 3 months - Selina Wamucii | Food & Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2024\/04\/19\/prices-of-norwegian-salmon-rise-by-41-in-3-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prices of Norwegian salmon rise by 41% in 3 months - Selina Wamucii | Food & Agriculture News\" \/>\n<meta property=\"og:description\" content=\"The prices of Norwegian salmon have appreciated by 41% in Q1 2024 in comparison to those of Q1 2023. 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