Norwegian salmon spot prices fell to around EUR 6.59 ($7.65) per kilo this week, according to analyst estimates, marking what sources described as a relatively low level for the market.
The decline is expected to weigh on second-quarter averages, which have so far tracked above the current level. Analysts noted that euro-denominated pricing presents a somewhat stronger picture than prices measured in Norwegian kroner because of recent exchange rate movements.
Weekly Norwegian salmon exports totalled 29,616 tonnes, down 1.8% year-on-year and 9.6% week-on-week.
Analysts said the decline followed unusually strong export volumes the previous week and reflected more normal seasonal patterns and biomass development.
Export growth into Poland and Denmark pointed to continued solid retail demand across the European Union, while non-EU volumes to the United States and Asia were somewhat weaker, potentially reflecting higher freight costs.
The total export value for Norwegian salmon reached EUR 200 million ($232 million), up 4.8% year-on-year but down 13.3% from the previous week.
Analysts said demand typically softens from this stage of the season onward, noting that last year’s market declined from around EUR 190 million ($220 million) to EUR 170 million ($197 million) between weeks 20 and 24.
Norwegian standing biomass at the end of April was up 0.3% year-on-year, improving from a negative 1% growth trend in recent months.
The increase was driven by larger smolt stocking during April, although analysts cautioned that this could reverse in May.
Biological conditions remained strong. April mortality was 17% lower year-on-year, representing the lowest April mortality level recorded since 2015.
Average harvest weights reached 5.22 kilograms, up 1% year-on-year, although analysts expect growth in harvest weights to moderate due to tougher year-on-year comparisons.
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.