Russian sanctions cause export upset

So far this year, however, exports of salmon have totalled NOK 35.8 billion, up 14 per cent on last year, according to the latest figures from the Norwegian Seafood Council.

“The reduction in the value of exports in October is a combination of lower prices and volumes. Despite the ban on imports from Russia, the demand for Norwegian salmon very good, and the EU will take away a greater share,” says the Norwegian Seafood Council’s Paul T Aandahl.

In terms of volume, exports totalled 101,400 tonnes in October, a decrease of 1.6 per cent compared with the month of October last year. The volume of exports so far this year, however, is 7 per cent higher, reaching 824,000 tonnes.

The average export price for fresh whole salmon in October was NOK 35.82 per kilo, which is 5 per cent lower than the same month last year. Salmon prices in October were little more than 2 per cent higher than the average price in September.

Exports of Norwegian salmon to the EU neared NOK 2.9 billion, up 9 per cent from the same month last year, partially due to a ban imports from Russia. Exported volume was 77,000 tonnes, representing an increase of 13 per cent. Poland and France were the largest buyers of Norwegian salmon in October.

Salmon exports to Eastern Europe, in terms of value, slumped by 78 per cent to reach NOK 136 million. The reason for the decline is mainly related to the Russian import ban and a reduced supply to the Ukrainian market.