Volumes dip, values soar

The value of Norwegian salmon exports totaled NOK 13.4 billion (£1.1 billion) in the first quarter of the year, up by 21 per cent compared to the first quarter of 2015, despite a 6% decrease in volume to 227,464 tonnes.

Publisert

In March alone, Norway exported 80,663 tonnes of salmon, worth NOK 4.9 billion (£410m), down by 13% in volume, but up by 18 per cent in value compared to March 2015.

“Reduced output from Norwegian producers, combined with a strong demand for Norwegian salmon and favourable currency situation has contributed to a record first quarter for Norwegian salmon,” says Paul T Aandahl, an analyst at the Norwegian Seafood Council.

The average export price for fresh whole salmon in the first quarter was NOK 56.68  (£4.78) per kg. This is 33 per cent higher than the average prices in Q1 2015. The export price for fresh whole salmon in March was NOK 59.11 (£4.98) per kg, which is 43 per cent higher than in March 2015.

Exports to the EU were worth NOK 9.9 billion in the first quarter. This is 23 per cent higher than for Q1 2015. Measured by volume, 173,147 tonnes of salmon were exported to the EU during Q1. This is a reduction of 5 per cent compared to the first quarter last year. The principal EU markets were Poland, France and Britain. Italy was the market that showed the biggest growth, buying 11,455 tonnes of salmon, worth NOK 705 million – an increase of 61 per cent in value and 11 per cent by volume compared with Q1 2015.

The value of exports to Asia rose by 24% to reach NOK 2.3 billion in the first quarter. By volume, 35,230 tonnes of Norwegian salmon were exported, a reduction of 8 per cent.

Exports to the US reached NOK 746 million in the first quarter, an increase of 32 per cent year-on-year. Measured by volume, 9,439 tonnes of salmon were exported to the United States, which is an increase of 6 per cent compared to Q1 2015. In the first three months, the proportion of fresh fillets increased from 22 per cent in 2015 to 47 per cent in 2016.

Trout exports double

The value of Norwegian trout exports rose by 99% to reach NOK 906 million (£76m) in the first quarter. Measured by volume, 18,693 tonnes of trout were exported in Q1. This is an increase of 91 per cent year-on-year. Top buyers of trout were Belarus, Poland and Japan.

In March, trout exports were worth NOK 319 million, an increase of 76% compared with March 2015. Measured by volume, 6,337 tonnes of trout were exported in March, an increase of 55 per cent.