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Record value for Norwegian salmon exports in January

Press Release   •   Feb 04, 2016 09:59 GMT

Norway exported salmon worth NOK 4.3 billion in January. An increase of 18 per cent or NOK 644 million compared to January 2015. This represents an all-time high for the month of January. Measured by volume, 73,463 tonnes of salmon were exported in January, which is 4 per cent, or 3,300 tonnes less than in January 2015.

”A lower supply of salmon from Norway, in combination with a weak Norwegian krone and strong demand in the markets has led to record prices this month for Norwegian salmon”, says Paul T. Aandahl, Analyst for salmon and trout with the Norwegian Seafood Council.

Record high salmon prices

The average export price for fresh whole salmon in January was NOK 55.62 per kg. This is NOK 11.4 per kg or 26 per cent higher than the same month in 2015. This is the highest average export price obtained for a single month since 1988. The price in January 2016 was 9 per cent higher than the average price in December 2015.

Nominal export growth to EU markets

Norway exported salmon to the EU worth NOK 3.1 billion in January, an increase of 17 per cent from January 2015. Measured by volume, EU exports decreased by 4 per cent or 2,400 tonnes to a total of 56 000 tonnes for January. By export volume, Poland, France and Great Britain were the biggest markets for Norwegian salmon in January.

Exports to Eastern Europe remain the same

Norway exported salmon to eastern Europe worth NOK 104 million in January, the same level as in January 2015. By volume, some 2,400 tonnes of salmon were exported to eastern Europe in January. A decrease of 9 per cent compared with January 2015. The biggest buyers of salmon in January, measured by volume, were Ukraine, Turkey and Belarus.

Strong growth in export value to Asia and US

Norway exported salmon to Asia worth NOK 719 million in January. An increase of 24 per cent or NOK 139 million from January 2015. By volume, exports to the region were 11,100 tonnes, some 5 percent lower than in January 2015. Japan, Vietnam and South Korea were the biggest Asian buyers of Norwegian salmon.

Salmon exports to the USA were up by 32 per cent in January to a new total of NOK 234 million. By volume, 2,900 tonnes of Norwegian salmon were exported to the United States in January. This represents an increase of 83 tonnes or 3 per cent from January 2015.

Strong growth for trout exports

Trout exports totalled NOK 294 million in January. An increase of 124 per cent, or NOK 163 million, from January 2015. Export volumes also increased by 131 per cent to total 6,200 tonnes. The average price achieved for fresh whole trout in January was NOK 45.95 per kg. This is at the same level as January 2015. The biggest markets for trout measured in volume were Belarus, Poland and the USA.

The Norwegian Seafood Council works with the Norwegian fisheries and aquaculture industries to develop markets for Norwegian seafood through local market intelligence, market development and reputational risk management. The Seafood Council is headquartered in Tromsø and maintains local representatives in twelve of Norway's most important international markets. The Norwegian seafood industry finances the activities of the Norwegian Seafood Council via a tariff on all Norwegian seafood exports.

The Norwegian Seafood Council is a public company owned by the Ministry of Trade, Industry and Fisheries.