Salmon market drifts lower with buyers on the sidelines.
Norwegian salmon prices have dropped sharply this week, as the market enters full summer slowdown. European demand remains sluggish, harvesting continues, and prices are now significantly down on some weights compared to last Friday.
“We haven’t been harvesting much,” said one farmer. “It’s a bit flat, a bit of mind games maybe.”
Traders describe a market in vacation mode, with one exporter commenting: “Everyone seems to be on holiday.”
Pricing for next week’s deliveries varies slightly by region and contract, but sources report, 3–4 kg fish at NOK 52–54 ($5.10–5.29 / €4.42–4.59), 4–5 kg at NOK 55–56 ($5.39–5.49 / €4.68–4.76), and 5–6 kg at NOK 58–59/kg ($5.68–5.78 / €4.93–5.02).
Last week, 5–6 kg fish were quoted as high as NOK 65/kg ($6.37/€5.53).
One trader told SalmonBusiness they had hesitated to answer the phone this week, thinking it might be someone selling car insurance. “To be honest,” they said, “I’m starting to think that might be a better option than selling salmon right now.”
Much of the volume now looks set for freezing, with little appetite in core European markets. “It’s quiet,” said one exporter. “You give a number, and unless someone really has to buy, nothing happens.”
One exporter said prices to farmers were “mostly holding in the mid-50s,” with 3–4 kg fish around NOK 54 ($5.29 / €4.59), 4–5 kg at NOK 56 ($5.49 / €4.76), and 5–6 kg quoted up to NOK 58 ($5.68 / €4.93) in some cases.
Other contacts confirmed a similar range, attributing the subdued buying activity to warm weather, holiday schedules, and a general reluctance to take on volume without firm demand.
Most expect the market to remain flat or soften further through late July, with buyers reluctant to commit until after the summer break.
