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Sharp Rise In Salmon Prices

Press Release   •   Dec 03, 2014 04:02 GMT

Norway exported salmon worth NOK 3.9 billion in November. This is a reduction of NOK 96 million, or 2 per cent, compared with November 2013. Year to date salmon exports total NOK 39.6 billion. This is NOK 4.4 billion, or 12 per cent, more than the same period in 2013, according to data from the Norwegian Seafood Council.

”The reduction in the value of exports in November is due to slightly lower fishing volumes than last year. Despite the continuing Russian import ban, demand for Norwegian salmon remains very good, and the growth we´ve seen in recent weeks demonstrates this, says Bjørn-Erik Stabell, Marketing Manager for Salmon at the Norwegian Seafood Council.

88,077 tonnes of salmon were exported in November. This is a reduction of 9 per cent, or 8,300 tonnes, compared with November 2013. Year to date salmon exports total 910,500 tonnes. This is 5 per cent higher than the same period last year.

Higher salmon prices

The export price for fresh whole salmon in November was NOK 41.12 per kg. This is 6 per cent higher than the same month in 2013. Average salmon prices in November were 16 per cent higher than the previous month of October.

Strong growth in EU exports

Norwegian salmon exports to the EU were almost NOK 2.9 billion in November. This represents an increase of 12 per cent from the same month last year. The Russian import ban from August 2014, has led to a higher proportion of Norwegian salmon being exported to the EU. In particular we see strong increases in exports of Norwegian salmon to the UK, Spain and Italy. Export volume, measured by product weight was 68,000 tonnes, an increase of 6 per cent. Poland and France were the biggest buyers of Norwegian salmon in November.

Exports to Eastern Europe marked by the import ban

Salmon exports to Eastern Europe totalled NOK 155 million in November. This is a decrease of 73 per cent compared to November 2013. Volumes are also sharply decreased by 72 per cent, to a new total of 4,200 tonnes. The decline is mainly due to the Russian import ban and reduced supply to the Ukrainian market.

Asian markets increase, US sales decrease

Salmon exports to Asia totalled NOK 574 million in November. An increase of 3 per cent compared with November 2013. Measured by volume, this is a reduction of 700 tonnes from November 2013 to a new total of 12,100 tonnes.

US salmon exports were worth NOK 144 million in November. This is a reduction of 23 per cent compared with November 2013. The fall is due to lower salmon fishing volumes. Export volumes to the US in November totalled 2,150 tonnes.

Decline in trout export value

Trout exports in November reached NOK 176 million. This is a decrease of NOK 71 million, or 29 per cent from November 2013. Exported volumes were 3960 tonnes which is some 1700 tonnes less than a year earlier. The biggest buyers of Norwegian trout were Belarus and China. Year to date trout exports totalled NOK 2.2 billion. This is an increase of NOK 54 million, or 3 per cent, compared with the same period in 2013.

The Norwegian Seafood Council is a joint marketing organisation for the Norwegian seafood industry and invests NOK 495 million annually in the development of markets for Norwegian seafood products. The council has its head office in Tromsø and offices in thirteen of Norway’s most important seafood markets. The Norwegian seafood industry finances the activities of the council through fees levied on all exports of Norwegian seafood.

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