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A strong quarter for Norwegian salmon exports

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A strong quarter for Norwegian salmon exports

Norway exported salmon worth a total of NOK 11.2 billion in the first quarter of 2015. This represents an increase of 5 per cent, or NOK 536 million, compared to the first quarter last year. Measured by product weight, 243,300 tonnes of salmon were exported in the first quarter, which corresponds to an increase of 11 per cent year-on-year.

In March, Norway exported salmon to a value of NOK 4.2 billion – an increase of 14 per cent or NOK 533 million compared to March 2014. Measured by product weight, 93,600 tonnes of salmon were exported in March, which represents an increase of 18 per cent.

"Increased production in Norway, combined with the weakening of the Norwegian krone against the major currencies, contributed to a growth in value for Norwegian salmon. Although a considerable proportion of exports to Eastern Europe has effectively ceased, Norwegian exporters have found alternative markets for salmon”, said Paul T. Aandahl, industry manager for salmon and trout at the Norwegian Seafood Council.

Lower prices for Norwegian salmon

The average export price for fresh whole salmon was NOK 42.55 per kg in the first quarter of 2015. This is a decrease of 9 per cent or NOK 4.12 compared to the first quarter in 2014. The export price for fresh whole salmon was 41.48 per kg in March. This is 6 per cent or NOK 2.44 lower than the first quarter last year.

Increased exports to the EU 

Norway exported salmon to the EU to a value of NOK 2.3 billion in the first quarter of 2015. This is 14 per cent higher compared to the first quarter in 2014. Measured by product weight, Norway exported 183,300 tonnes of salmon to the EU in the first quarter. This is an increase of 22 per cent, or 32,600 tonnes year-on-year. The EU is the most important market for Norwegian salmon, and the proportion of total exports from Norway to the EU has increased in terms of volume from 69 per cent in the first quarter last year to 75 per cent in the same period this year. The main markets for Norwegian salmon in the EU were Poland and France. The UK had the strongest growth, both in terms of value and volume, and is Norway's third largest salmon export market. In the first quarter, 19,700 tonnes of salmon worth NOK 903 million was exported to the UK. This corresponds to an increase of 36 per cent by volume and 37 per cent by value year-on-year.

Increased exports to Asia and the US

Salmon worth NOK 1.87 billion was exported to Asia in the first quarter. This represents an increase of 19 per cent, or NOK 301 million, compared to the first quarter last year. Measured by product weight, Norway exported 38,700 tonnes of salmon to Asia in the first quarter – an increase of 26 per cent year-on-year.

Exports of Norwegian salmon to the US continues to increase after a period of strong growth during the year. Norway exported salmon to the US worth NOK 566 million in the first quarter. This represents an increase of 29 per cent compared to the first quarter last year. Measured by product weight, Norway exported 9,000 tonnes of salmon to the US in the first quarter – an increase of 41 per cent, or 2,600 tonnes.

Decline in exports of trout  

Norway exported trout worth NOK 460 million in the first quarter of 2015. This represents a decrease of 26 per cent, or NOK 165 million, compared to the first quarter last year. Measured by product weight, Norway exported 10,000 tonnes of trout in the first quarter – this is a decrease of 22 per cent year-on-year.

In March, Norway exported trout for a total of NOK 181 million. This represents a decrease of 18 per cent or NOK 41 million compared to March last year. Measured by product weight, 4,100 tonnes of trout were exported in March – a decrease of 620 tonnes. The main markets for Norwegian trout are Belarus and Poland. 

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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 offices in thirteen 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.

Press contacts

Paul T. Aandahl

Paul T. Aandahl

Seafood Analyst +47 975 04 124

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