Norwegian salmon standing biomass totalled 852,500 tonnes live weight at the end of April, up 0.3% year-on-year, as higher average fish weights offset lower fish numbers, according to data from the Norwegian Directorate of Fisheries cited by Fearnley Securities.
The bank said the figures point to muted harvest growth heading into summer, which it believes should support salmon prices despite some recent weakness in the spot market.
The older 2024 generation declined 18.5% year-on-year to 94,700 tonnes of standing biomass, driven by a 20% reduction in fish numbers.
Fearnley Securities said the decline in the older cohort is likely to constrain harvest volumes in the coming months.
April harvest volumes fell 4.3% year-on-year to 121,800 tonnes whole fish equivalent. Harvested fish numbers declined 5.1% to 23.3 million individuals, partly offset by a 0.9% increase in average harvest weight to 5.22 kilograms.
Average fish weight in Norwegian pens rose 1.8% year-on-year to 2.00 kilograms, while total fish numbers declined 1.4% to 426.1 million individuals.
Feed consumption increased 3.2% year-on-year, which Fearnley Securities said indicated good growing conditions at sea. Smolt releases rose 2.7% year-on-year to 41.2 million individuals.
Far North Norway, covering production areas 11-13, recorded the strongest growth with biomass up 19.8% year-on-year, while South Norway, covering production areas 1-2, posted a 25.9% decline.