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Strong gains for Norwegian salmon exports in Q1 2016

Press release   •   Apr 05, 2016 03:59 UTC

Norway exported salmon to a market value of NOK 13.4 billion in Q1. This is an increase of 21 per cent, or NOK 2.34 billion from the first quarter of 2015. Measured by volume, some 227,464 tonnes of salmon were exported during the first quarter. By volume, this represents a small decline of 6 percent compared with the first quarter of 2015.

Norway´s salmon exports were worth NOK 4.9 billion in March. An increase of 18 per cent or NOK 768 million compared to March 2015. March in volume terms amounted to 80,663 tonnes. This is a reduction of 13 per cent compared with the same month last year.

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

Salmon prices set new records

The average export price for fresh whole Norwegian Salmon in the first quarter was NOK 56.68 per kg. This is 33 per cent or NOK 14.12 per kg higher than the average prices in Q1 2015. The export price for fresh whole salmon in March was NOK 59.11 per kg. This is 43 per cent or NOK 17.66 per kg higher than in March 2015.

Export growth to the EU

Norway exported salmon to the EU 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 or 8,786 tonnes compared to the first quarter last year. The principal markets for Norwegian salmon in the EU in the first quarter were Poland, France and Britain. Italy was the market that showed the biggest growth in Q1, measured by volume. In Q1 2016, Norway exported 11,455 tonnes of salmon worth NOK 705 million to Italy. An increase of 61 per cent in value and 11 per cent by volume compared with Q1 2015.

Increased exports to Asia and the US

Norway exported salmon to Asia to a value of NOK 2.3 billion in the first quarter. An increase of 24 per cent, or NOK 440 million compared to Q1 2015. By volume, 35,230 tonnes of Norwegian salmon were exported to Asia in the first quarter. A reduction of 8 per cent from the first quarter last year.

Norway exported salmon to the United States worth 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 in the first quarter. This is an increase of 6 per cent or 529 tonnes 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.

Doubling of trout exports

Norway exported trout worth NOK 906 million in the first quarter. An increase of 99 per cent or NOK 450 million from Q1 2015. 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 from Norway in the first quarter of this year were Belarus, Poland and Japan.

In March, trout exports were worth NOK 319 million. An increase of 76 per cent or NOK 138 million compared with March 2015. Measured by volume, 6,337 tonnes of trout were exported in March. An increase of 2,253 tonnes or 55 per cent. 

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.

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