Prices for fresh, head on gutted (HOG) Atlantic salmon from Norway have dropped again this week, according to salmon benchmarking firm Sitagri.
This makes 2026 the second year that has seen Q2 price declines in the category; as the above visualization of historical patterns demonstrates, prior to 2025, Q2 prices typically grew stronger after a post-holiday slump at the beginning of the year.
In 2025, however, prices in the category were volatile enough to make tracking a clear trend difficult. Prices fell overall but saw significant week-to-week variation throughout the year. In mid-April 2025, for instance, prices jumped from around NOK 76 (USD 8.22, EUR 7.04) to nearly NOK 100 (USD 10.81, EUR 9.27) a kilogram before dropping even lower than the mid-70s by the end of the month.
So far 2026 has followed the same pattern, with slightly less week-to-week variability. There have been fewer large week-to-week variations, and more weeks of steady decline or slow growth.
Sitagri, which produces a weekly price benchmark for Norwegian salmon at its first point of sale in Oslo, put the average price of salmon in Week 21, which occurred between 17 and 23 May, at NOK 70.52 (USD 7.62, EUR 6.53) per kilogram. That average represented a 2.8 percent, or NOK 2.03 (USD 0.22, EUR 0.19), decline in price over the past week.
The average price for salmon sized 3- to 6-kilograms was NOK 71.42 (USD 7.72, EUR 6.62), down 3 percent, by NOK 2.21 (USD 0.24, EUR 0.20), week over week.
Week over week price variation was minimal across all size categories tracked by Sitagri.
The largest price growth was seen in the largest fish size categories, with fish weighing more than 8 kilograms averaging a more than NOK 1.15 (USD 0.12, EUR 0.11) price increase over the course of the week. Fish weighing more than 9 kilograms averaged a per-kilogram price of NOK 67.68 (USD 7.32, EUR 6.27) this week, while the 8- to 9-kilogram category averaged NOK 67.74 (USD 7.32, EUR 6.28).
All other categories saw price declines in Week 21, though the variance was minimal. Salmon weighing 6- to 8-kilograms saw a decline of more than NOK 1.25 (USD 0.14, EUR 0.12) over the week. The average price of 7- to 8-kilogram sized salmon was NOK 68.85 (USD 7.44, EUR 6.38), while the average price of 6- to 7-kilogram salmon was NOK 70.60 (USD 7.63, EUR 6.54) per kilogram.
Salmon weighing 4- to 6-kilograms saw a decline in price of more than NOK 2.16 (USD 0.23, EUR 0.20) in the same time period, with 5- to 6-kilogram sized salmon averaging NOK 71.78 (USD 7.76, EUR 6.65) and 4- to 5-kilogram salmon averaging NOK 71.48 (USD 7.73, EUR 6.62).
Salmon weighing 3 to 4 kilograms averaged NOK 70.98 (USD 7.67, EUR 6.58) per kilogram, a week over week decline of NOK 1.82 (USD 0.20, EUR 0.17).
Salmon weighing 2- to 3-kilograms saw the biggest decline in price week over week, of NOK 2.88 (USD 0.31, EUR 0.27), coming to an average of NOK 66.29 (USD 7.17, EUR 6.14) per kilogram.
Salmon weighing 1- to 2-kilograms sold for an average of NOK 59.68 (USD 6.45, EUR 5.53), a NOK 0.98 (USD 0.11, EUR 0.09) price increase week over week.
According to Sitagri, 22,386 Metric Tons of fresh, gutted salmon of all sizes was exported from Norway in Week 21. That amount represented a week over week drop in mass by 1,580 MT or 7.6 percent, and a year over year drop of 1,920 MT or 9.4 percent.
Sitagri reported forward prices for June 2026 at EUR 7,150 per MT (USD 8,303, NOK 77,170), July at EUR 6,740 per MT (USD 7,827, NOK 72,744), August at EUR 6,400 per MT (USD 7,432, NOK 69,075), September at EUR 6,230 per MT (USD 7,234, NOK 67,240), and October at EUR 6,180 per MT (USD 7,176, NOK 66,701).
Q3 2026 currently sits at EUR 6,270 per MT (USD 7,281, NOK 67,671), and Q4 at EUR 6,977 per MT (USD 8,102, NOK 75,292). Q1 and Q2 2027 are currently at EUR 8,400 per MT (USD 9,754, NOK 90,661) and EUR 8,067 per MT (USD 9,367, NOK 87,068) respectively.
Sitagri noted in its forward pricing updates that bids for the full 2027 year and for Q3+Q4 2026 were not yet resolved. Buyers were offering 2027 full year bids at EUR 7,400 per MT (USD 8,593, NOK 79,868), while sellers were offering EUR 7,600 per MT (USD 8,825, NOK 82,027).
There appears to be less consensus between buyers and sellers about where prices are heading for the rest of 2026, since Q3+Q4 bids are currently being offered at EUR 6,900 per MT (USD 8,012, NOK 74,471) while buyer bids sit at EUR 6,000 per MT (USD 6,967, NOK 64,758).
