According to multiple sources, the delivery price of salmon in the 40th week fell by NOK 2.5-NOK 6/kg, with larger sizes experiencing a relatively significant drop.
However, the overall biomass level of Norwegian salmon is declining. On September 22, analyst Theodor Rosenberg from Fearnley Securities pointed out in the latest research report that data from the Norwegian Fisheries Directorate showed that the biomass level in Norway was around 870,000 tons (live fish) at the end of August, a simultaneous decrease of 2.4%. The total number of salmon decreased by 6.7% year-on-year, as August's production reached 177,900 tons, an increase of 18.1% year-on-year; while the number of fish fry released in August was 44.3 million, a decrease of 16.3% year-on-year.
From January to August 2025, the cumulative number of fish fry released in Norway decreased by 3.6% year-on-year, and the feed consumption in August was 228,300 tons, a decrease of 4.4% year-on-year.
These data support the following points: first, prices will be higher in the future; second, biomass growth will remain weak in the coming months; third, the supply in Norway will show a negative growth rate of -1.4% in 2026, and the slowdown in Norway may be offset by rising production in Chile.
Over the past six weeks, the spot price of Norwegian salmon has risen by a cumulative 35%, and according to seasonal patterns, the upward trend in prices is expected to continue.
In the U.S. market, the price of Norwegian salmon showed a general upward trend in the 39th week, and the industry believes that the rising demand for large-sized salmon in the Chinese market has had a certain stimulating effect on the U.S. market.
Meanwhile, the price of Chilean salmon in the U.S. market has not changed much, and the price of various sizes of Trim-D fish fillets remained the same as last week.
Finally, the price of Scottish salmon continued to rise in the 40th week, with Scottish prices lagging behind those of Norway. The price for 5-6 kg delivery was £6.30/kg, and the price for 6-7 kg was £7.20/kg. Currently, there is a shortage of large-sized Scottish salmon.