Prices for fresh, head-on gutted (HOG) Atlantic salmon from Norway have fallen again this week, reaching their lowest point so far this year, according to the Sitagri Salmon Index.
The week-over-week (WoW) decline was minimal, however, and expected given seasonal growth patterns and strong quarterly harvest reports out of some of the nation's biggest producers.
Sitagri, which produces a weekly price benchmark for Norwegian salmon at its first point of sale in Oslo, put the average price of all sizes of salmon in Week 27, which occurred between 1 and 8 July, at NOK 62.86 (USD 6.42, EUR 5.63) per kilogram. That represented a 0.9 percent, or NOK 0.57 (USD 0.06, EUR 0.05), week-over-week drop in the average price per kilogram for the fresh, whole HOG category.
Harvest volumes are traditionally high this time of year, though data from the SeafoodSource Pricing Portal shows that they were higher in May 2026, when the price of Norwegian salmon was much stronger.
On 2 May, for instance, global export volumes hit their 2026 peak so far, topping out at 112,886 MT. On the same date, average global prices for all categories of Norwegian salmon sat at NOK 86.28 (USD 8.81, EUR 7.72), NOK 23.42 (USD 2.39, EUR 2.10) above the prices reported by Sitagri on 8 July. Prices reported by the SeafoodSource Pricing Portal tend to run slightly higher than those reported by Sitagri because they generally include processing costs and losses, but the price has fallen significantly even accounting for this discrepancy.
A year-over-year comparison puts the 2026 declines into starker relief. While prices over the last four years have reached their lowest point during mid-summer every year, 2026's prices are much lower than those of mid-summer prices for previous years.
Last year saw prices just below NOK 80 (USD 8.19, EUR 7.17) per kilogram in mid-July, while 2024 saw prices above NOK 80 per kilogram at the same point in the year.
In July 2023, prices were low compared with the H1 2023 average, but they were still nearing NOK 100 (USD 10.23, EUR 8.96) per kilogram in mid-summer – well above this year's levels. These figures come from the SeafoodSource Pricing Portal and reflect the broader category of Atlantic salmon from Norway, so they are likely slightly higher than historical FOB Oslo prices for HOG Atlantic salmon from the country.
As the historical visualizations above show, export masses have tended to follow a similar curve over the last few years, with a decline in volume in mid-summer. Higher volumes in 2025, and especially this year, have likely driven prices to their current historic lows, along with increased competition for valuable markets from other key production regions like Chile.
Norwegian farmers generally reach peak harvest in early or mid-summer, when warmer water temperatures make growing conditions ideal for packing on fish biomass; even given that expected pattern, producers described 2025's high harvest volumes as a historical anomaly.
In August 2025, for instance, during a presentation on his company's Q2 results, Mowi CEO Ivan Vindheim said that the 18 percent spike in harvest volume that the company saw then was unlikely to reoccur.
"It is a number we haven't seen in many years. I think we have to go back to 2012 to see something similar. This, of course, put pressure on prices in the quarter," Vindheim said. "In our view, 2025 is just an anomaly and an exception to the limited supply growth we've seen in recent years and which we expect to see for a long time to come, and [also] on which our entire growth strategy is grounded."
Though Mowi has yet to report its 2026 Q2 harvests, other Norwegian companies have reported high harvest volumes this year so far. For instance, Måsøval reported a 2026 Q2 harvest of 9,350 gutted weighted tons (GWT), up from 8,538 GWT at the same point last year. Total 2026 Q2 biomass hit 14,762 metric tons (MT).
Sitagri put the average price for salmon sized 3 to 6 kilograms in Week 27 at NOK 63.14 (USD 6.45, EUR 5.65), down 0.8 percent, or NOK 0.52 (USD 0.05, EUR 0.05), WoW.
There wasn't a clear relationship between fish weight and its price change this week, though small salmon and large salmon (with the exception of fish weighing more than 9 kilograms) lost the most value. WoW value loss was minimal overall, however, topping out at a decline of NOK 2.47 (USD 0.25, EUR 0.22) in the 7- to 8-kilogram category.
The largest fish (9+ kilograms) lost the least value in Week 23, seeing an average price of NOK 67.26 (USD 6.87, EUR 6.02), down NOK 1.24 (USD 0.13, EUR 0.11) week over week.
1- to 2-kilogram fish averaged NOK 49.00 (USD 5.01, EUR 4.39) per kilogram, down NOK 1.18 (USD 0.12, EUR 0.11) WoW.
2- to 3-kilogram fish averaged NOK 56.61 (USD 5.78, EUR 5.07) per kilogram, down NOK 1.96 (USD 0.20, EUR 0.18) WoW.
3- to 4-kilogram fish averaged NOK 61.73 (USD 6.31, EUR 5.52) per kilogram, down NOK 0.61 (USD 0.06, EUR 0.05) week over week.
4- to 5-kilogram fish averaged NOK 63.13 (USD 6.45, EUR 5.65) per kilogram, down NOK 0.44 (USD 0.04, EUR 0.04) WoW.
5- to 6-kilogram fish averaged NOK 64.55 (USD 6.59, EUR 5.78) per kilogram, down NOK 0.52 (USD 0.05, EUR 0.05) WoW.
6- to 7-kilogram fish averaged NOK 65.35 (USD 6.68, EUR 5.85) per kilogram, down NOK 0.44 (USD 0.04, EUR 0.04) WoW.
7- to 8-kilogram fish averaged NOK 65.27 (USD 6.67, EUR 5.84) per kilogram, down NOK 2.47 (USD 0.25, EUR 0.22) WoW. This was the steepest decline of any category of HOG Atlantic salmon from Norway covered by Sitagri in Week 27.
8- to 9-kilogram fish averaged NOK 66.24 (USD 6.77, EUR 5.93) per kilogram, down NOK 2.08 (USD 0.21, EUR 0.19) WoW.
Fish weighing more than 9 kilograms averaged NOK 65.93 (USD 6.73, EUR 5.90) per kilogram, down NOK 0.90 (USD 0.09, EUR 0.08) WoW.
