Norwegian salmon exports set a £1 billion record last month

The value of Atlantic salmon exported by Norway in September was NOK 13 billion (£1.02 billion), a record for salmon in a single month, the Norwegian Seafood Council (NSC) said today.

Norway exported a record volume of 165,393 tonnes of salmon last month, 22% more than in the same month last year, although returns only increased by 15% (NOK 1.7bn) due to currency effects.

“Measured against the US dollar and the euro, the Norwegian krone was stronger in September than in the same month last year. This reduced the export value measured in Norwegian kroner,” said NSC chief executive Christian Chramer.

NSC market analyst Paul T. Aandahl said September’s record-high volume reflected favourable biological conditions throughout 2026, resulting in high survival rates, rapid growth, and a strong supply of large salmon.

“These fish are now being harvested during the seasonally strong autumn period.”

Poland, the Netherlands, and China were the largest markets for salmon in September, and Poland recorded the greatest growth in value in September, with export value increasing by NOK 382 million (21%), compared with the same month last year. Export volume to Poland totalled 32,296 tonnes, 30% higher than in September 2025.

Exports to China

Salmon exports to China increased by 43% in volume, reaching 11,420 tonnes in September. Export value rose by NOK 275m (38%) to NOK 1 bn.

“This is stronger growth than expected and the highest volume exported to China since March. We believe this contributed to category growth ahead of China’s Golden Week, while Norway also gained market share,” says Sigmund Bjørgo, the Norwegian Seafood Council’s envoy to China.

In July, Norway’s market share was 76% of all salmon imports to China, while it was 73% in August. These are the highest levels in 15 years.

So far this year, Norway has exported 98,473 tonnes of salmon to China, an increase of 42% over the same period in 2025. The value rose to NOK 8.5bn, an increase of 39%.

NSC CEO Chramer said the strong availability of large salmon, which are particularly attractive in the Chinese market, had boosted sales.

“In addition, underlying growth in demand for fresh whole salmon supported prices and lifted Norway’s market share in China to its highest level in more than 15 years.”

Viva España

Salmon exports to Spain also increased in September, rising by 31% in volume to 10,078 tonnes, while value rose by NOK 141m (21%) to NOK 798m.

“Spain is a particularly important market for Norwegian salmon. It has developed steadily and strongly over many years,” said NSC analyst Aandahl.

The positive trend continued in September, when monthly salmon exports to Spain exceeded 10,000 tonnes for the first time.

“Norwegian salmon is outperforming other fish in Spain and has achieved the strongest growth across all protein categories,” said Tore Holvik, the NSC’s seafood envoy to Spain.

“Strong sales at fresh counters and in the wider salmon market drove September’s growth. Some volume may also be going into frozen storage because of ample Norwegian supply and expectations of higher prices.”

In the third quarter of 2026, Norway exported 464,700 tonnes of salmon worth NOK 36.2bn (£2.84bn). The value increased by NOK 4.6bn (14%), compared with Q3 2025, and the volume increased by 12%.

Trout

The volume and total value of trout exported from Norway fell in September, although sellers were achieving more per kilo that in the same month last year.

Norway exported 5,664 tonnes of trout worth NOK 554m in September, a fall of NOK 122m (18%) in value compared with the same month last year, and a fall in volume of 32%.

The United States, Poland, and Thailand were the largest markets for trout in September.

Export volume to Poland totalled 987 tonnes, where a lot of secondary processing of salmonids is carried out, was 36% higher than in the same month last year.

The price of smoked trout fillets reached a record high of NOK 292 per kg in September. This was NOK 70 higher than the previous record month, which was March 2025.

“Lower supplies of Norwegian trout are the main reason for the decline in export volume. With production concentrated among few producers, changes in biomass, harvesting plans and the shift towards salmon production all affect export figures,” said NSC analyst Aandahl.

Cod

Norway exported 2,138 tonnes of fresh cod worth NOK 187m in September, of which 69% was farmed cod.

For fresh wild cod, export volume fell by 13% to 635 tonnes, while export value increased by 8% to NOK 58m.

Farmed cod continued to grow in volume. For fresh farmed cod, export volume increased by 21% to 1,504 tonnes, while export value rose by 47% to NOK 129m.

Farmed cod has accounted for 44% of fresh cod export value so far this year, up from 34% in the same period last year.

Overall, Norway exported seafood worth NOK 17.8bn in September. This represents a decline of NOK 27m compared with the same month last year.

“Norway has never exported a higher volume of salmon in a single month than it did in September,” said NSC CEO Chramer.

“At the same time, prices have risen in both euros and US dollars. The fact that the value of the Norwegian seafood exports nevertheless remained unchanged is due to a combination of a stronger Norwegian krone and lower export volumes of trout and several wild-caught species.”