Prices for fresh, head-on gutted (HOG) Atlantic salmon from Norway have continued their price slump in Week 23, according to the Sitagri Salmon Index.
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 23, which occurred between 1 and 7 June, at NOK 68.38 (USD 7.33, EUR 6.34) per kilogram. That represented a 5.9 percent, or NOK 4.28 (USD 0.46, EUR 0.40), week-over-week drop in the average price per kilogram for the fresh, whole HOG category.
As these visualizations of pricing patterns from the SeafoodSource Pricing Portal demonstrate, pricing patterns for fresh, whole Atlantic salmon out of Norway in 2023 and 2024 followed a relatively consistent curve.
Strong prices in the beginning of the years were followed by declines which became sharpest in June, with the price falling to its lowest point in early fall and then beginning a pre-holiday rebound. The dip in pricing between early summer and mid fall was expected due to seasonally high harvest volumes during that time of year.
The past two years, however, have upended seasonal pricing expectations in the category entirely. Last year saw prices experiencing week-to-week volatility, with an overall decline starting at the beginning of the year. Prices hit their lowest point in August before beginning to rebound before the holidays. This year has seen even more dramatic price volatility than 2025, but the overall decline has persisted, and prices started the year about NOK 20 (USD 2.14, EUR 1.85) lower than they had in 2025.
One point of consistency between 2026 and previous years is that volumes are up seasonally. Week 23 saw 22,409 metric tons (MT) of whole salmon exported from Norway, up 2,870 MT, or 15 percent, week over week, and up 3,245 MT, or 17 percent, year over year.
Sitagri put the average price for salmon sized 3 to 6 kilograms in Week 23 at NOK 69.20 (USD 7.41, EUR 6.41), down 6.1 percent, or NOK 4.53 (USD 0.49, EUR 0.42), week over week.
The largest fish (9+ kilograms) lost the least value in Week 23, seeing an average price of NOK 67.26 (USD 7.21, EUR 6.23), down NOK 1.24 (USD 0.13, EUR 0.11) week over week.
8- to 9-kilogram fish averaged NOK 68.31 (USD 7.32, EUR 6.33) per kilogram, down NOK 2.14 (USD 0.23, EUR 0.20) week over week.
7- to 8-kilogram fish averaged NOK 67.99 (USD 7.28, EUR 6.30) per kilogram, down NOK 3.26 (USD 0.35, EUR 0.30) week over week.
6- to 7-kilogram fish averaged NOK 68.19 (USD 7.30, EUR 6.32) per kilogram, down NOK 4.83 (USD 0.52, EUR 0.45) week over week.
5- to 6-kilogram fish averaged NOK 69.46 (USD 7.44, EUR 6.44) per kilogram, down NOK 4.66 (USD 0.50, EUR 0.43) week over week.
4- to 5-kilogram fish averaged NOK 69.21 (USD 7.41, EUR 6.41) per kilogram, down NOK 4.53 (USD 0.49, EUR 0.42) week over week.
3- to 4-kilogram fish averaged NOK 68.93 (USD 7.38, EUR 6.39) per kilogram, down NOK 4.39 (USD 0.47, EUR 0.41) week over week.
2- to 3-kilogram fish averaged NOK 64.13 (USD 6.87, EUR 5.94) per kilogram, down NOK 2.68 (USD 0.29, EUR 0.25) week over week.
1- to 2-kilogram fish averaged NOK 52.87 (USD 5.66, EUR 4.90) per kilogram, down NOK 5.65 (USD 0.61, EUR 0.52) week over week.
The forward market, as reported by FishPool, looks more pessimistic than it did this time last week.
FishPool reported downward trends in forward prices for the rest of the year, with July 2026 at EUR 6,600 (USD 7,624, NOK 71,198) per MT, August at EUR 6,280 (USD 7,254, NOK 67,745) per MT, September at EUR 6,160 (USD 7,115, NOK 66,451) per MT, October at EUR 6,110 (USD 7,058, NOK 65,912) per MT, and November at EUR 6,310 (USD 7,289, NOK 68,069) per MT.
Q3 2026 currently sits at EUR 6,183 (USD 7,142, NOK 66,700) per MT and Q4 at EUR 6,907 (USD 7,978, NOK 74,505) per MT, totals that are also both down.
Q1 and Q2 2027 were the exceptions, with Q1 projections holding steady at EUR 8,400 (USD 9,703, NOK 90,615) per MT and Q2 edging upward to EUR 8,067 (USD 9,318, NOK 87,021) per MT.
Full-year 2027 is priced at EUR 7,450 (USD 8,605, NOK 80,367) per MT, and full-year 2028 at EUR 7,540 (USD 8,709, NOK 81,338) per MT.
