While warm-weather demand is pushing up prices for wild fish, buyers are finding relief in falling prices for aquaculture products.

Wild species are experiencing strong price increases in Southern Europe, driven by high restaurant and foodservice demand. Grouper, snapper, and dentex are trading above 30 Euro/kg for larger sizes—up about 10% from last month—while flatfish like turbot and sole are also rising, especially in premium retail and HORECA (Hotel, Restaurants, and Catering/Cafe) markets.

Norwegian salmon has dropped nearly 45% since January, reaching 5.87 Euro/kg in June despite record exports. Vietnamese pangasius remains under pressure due to weak EU demand, while farmed seabream prices have fallen by up to 0.40 Euro/kg, widening the gap with wild alternatives.

Farmed cod is also gaining ground, now making up nearly a third of Norway’s fresh cod exports.

Tuna trade is shifting, with UK canned and prepared imports up 20% in early 2025. While Ecuador remains the top supplier, China has rapidly emerged, exporting over 1,200 tonnes after no shipments just two years ago—highlighting the need for supplier diversification.



Squid prices have dropped significantly in July after Argentina’s largest Illex catch in 17 years, with over 200,000 tonnes landed.

While China absorbed much of the volume, European markets are also seeing price declines. In contrast, South African squid prices remain stable due to poor catches and adverse weather.

Norway remains a key player in European seafood trade, with mackerel exports up 56% in value and marinated herring exports up 144% following an EU quota increase.

Crustacean markets are shifting due to trade and seasonal factors.

A 30% U.S. tariff on Indonesian shrimp (effective August 1) has triggered pre-tariff exports and falling prices. Meanwhile, seasonal EU lobster and crab landings are adding further downward pressure

To navigate current market conditions, we recommend EU seafood buyers lock in contracts on low-priced farmed species like salmon, pangasius, and seabream, and secure wild fish early to avoid seasonal price spikes.

Diversifying suppliers—especially in tuna—can reduce sourcing risk, while short-term opportunities exist in squid and crustaceans due to oversupply.



--- If you’re not already, be sure to subscribe to our Europe 3-Minute Market Insight to keep tuned-in to European market updates.