Norwegian salmon exports worth NOK 31.5 billion in first six months of 2017

The value of Norwegian salmon exports is steadily reaching new heights. In the first six months, the export value for salmon has never been higher than this year. Record-high salmon prices and growth in the U.S. and Asia are the main reasons.

Norway exported 451 000 tonnes of salmon worth NOK 31.5 billion in the first six months of the year. This is a decline in volume of 1 per cent and an increase in value of 13 per cent, or NOK 3.7 billion, from the first six months last year.

Norway exported 74 000 tonnes of salmon worth NOK 5.4 billion in June. This is an increase in volume of 2 per cent and an increase in value of 10 per cent or NOK 479 million compared with June last year.

- Continued growth in the demand for Norwegian salmon has contributed to another record strong first six months for Norwegian salmon. If we take into account the supply from other salmon-producing nations, the growth in demand for salmon is greatest in Asia. This is also where we expect the greatest growth will be in the future," says Paul T. Aandahl, analyst for salmon and trout at the Norwegian Seafood Council.

Record strong salmon price

Average export price for fresh whole salmon was NOK 66.38 per kg in the first six months. This is 13 per cent higher than in the first six months of last year. The export price for fresh whole salmon was NOK 68.80 per kg in June. This is 5 per cent higher than June last year.

Volume decline and value growth for the EU

Norway exported 321 000 tonnes of salmon to the EU at a value of NOK 21.8 billion in the first six months. This is a decline in volume of 8 per cent or 26 000 tonnes, and an increase in value of 6 per cent from the first six months last year. The most important markets for Norwegian salmon in the EU were Poland, France and Denmark. Denmark had the greatest growth measured in volume with 2 000 tonnes, while France had the greatest reduction with 9 300 tonnes.

Increases to Asia and the U.S.

Norway exported 82 000 tonnes of salmon to Asia at a value of NOK 6 billion in the first six months. This is an increase in volume of 15 per cent and an increase in value of 27 per cent, or NOK 1.3 billion, from the first six months last year. The most important markets in Asia are Japan, Vietnam and South Korea.

Norway exported barely 25 000 tonnes of salmon to the U.S. at a value of NOK 2.4 million in the first six months. This is an increase in volume of 26 per cent and an increase in value of 54 per cent from the first six months last year.

Reduction for trout

Norway exported 16 000 tonnes of trout worth NOK 1.3 billion in the first six months. This is a decline in volume of 56 per cent and a reduction in value of 31 per cent, or NOK 596 million, from the first six months last year. The largest purchasers of Norwegian trout measured in value in the first six months were Japan, the U.S. and Belarus.

In June, 2 800 tonnes of trout were exported at a value of NOK 230 million. This is a decrease in volume of 54 per cent or 3 200 tonnes, and a reduction in value of 33 per cent or NOK 115 million compared with June last year.

- The decline in the trout exports is due primarily to adjustments in stocks on land and at sea, plus lower production in 2017, says Aandahl.