Prices expected to edge lower next week.
Norwegian salmon spot prices are expected to ease in week 23, with three analyst sources pointing to prices of around EUR 6.66/kg (USD 7.71/kg), down from an estimated EUR 6.77/kg (USD 7.84/kg) this week.
The market has continued to soften from the stronger levels seen earlier in the second quarter, with analysts indicating a decline of roughly EUR 0.10/kg week-on-week. One source said volume-weighted prices quarter-to-date are running at around EUR 6.95/kg, implying some downside risk to current Q2 consensus forecasts.
Norwegian salmon exports totalled 32,224 tonnes last week, up 6.3% from a year earlier and 8.8% higher than the previous week. The stronger supply growth has added pressure to spot prices. Q2 export volumes are now running about 0.7% ahead of last year.
One analyst noted that weekly supply appears to be stabilising below historical peaks of around 37,000 tonnes, reflecting a broader industry effort to smooth harvest patterns through the year.
Demand for Norwegian salmon reached EUR 205 million last week, up 6.5% year-on-year and 2.3% week-on-week. Year-to-date demand growth stands at 4.7%.
Analysts said demand has remained relatively resilient despite tough comparisons with last year, when US tariffs were introduced in April 2025 and freight costs rose sharply. Fresh whole salmon continued to outperform, with demand up 11% last week and 12% higher year-to-date from the same period a year ago.
Spot prices traded higher early in the week before weakening again by Wednesday.
Each week, SalmonBusiness gathers salmon price forecasts from industry analysts for the week ahead. Unless otherwise stated, prices refer to Superior 3–6 kg salmon, per kilo FCA Oslo, converted using the day’s average exchange rate.