The average price of Norwegian salmon exports last year was €6.75/kg, up from €4.63/kg in 2015, an increase of 51 percent.
This statistic was reported in the Nasdaq Salmon Index’s annual audit, which was published this morning. The figures were gathered by a panel of 10 exporters, representing 50-60% of all Norwegian salmon exports. These panellists represent integrated companies, farmers and pure exporters. The volume of exports covered by the panel – 219,015 tonnes – fell by 23% compared to 2015, something that can be explained by the following factors: a 7% reduction of total Norwegian fresh exports; an increased share of physical contracts; and an increased share of exports by plane (not included in NQSALMON).
Despite this, the authors of the report believe that their results demonstrate the value of their data, stating: “In 2016, the average standard deviation between the panellists for 3-6 kg was NOK 0.972. The low figure verifies that NQSALMON is a solid representation of the actual spot price of the market. The number means that 68% of the panellists reported prices were within NOK 0.972. The number is slightly above last years’ NOK 0.64. However, one should take into account that the average prices in 2016 were 51% higher than the year before, and that the price volatility in 2016 was higher than in 2015. Our interpretation is that all ten panellists clearly operate in the same market, competing in the same segments, and that NQSALMON is a solid representation of the weekly European spot prices for Norwegian salmon.”