Norway has exported 2 million tonnes of seafood with a total value of NOK 71 billion so far this year. This represents a volume increase of 174,000 tonnes or 8 per cent, and an increase in export value of NOK 2.3 billion or 3 per cent measured against the same period last year. Can Norwegian seafood exports pass the NOK 100 billion mark by year-end?
Norwegian salmon farmers broke records during H1 2018. Seafood analyst Paul T. Aandahl explains what has driven this value growth and provides guidance on further growth scenarios for Norwegian salmon for the remainder of 2018.
Norway exported 165,000 tonnes of seafood with a total value of NOK 8.5 billion in May. Volumes were down by 11 per cent, while export values were up by NOK 821 million.So far this year, Norway has exported 1.2 million tonnes of seafood worth a value of NOK 40 billion. Export volumes have increased by 12 per cent, while the total export value has grown by NOK 1.6 billion or 4 per cent.
Norway exported 676,000 tonnes of seafood with a value of NOK 23.7 billion in the first quarter. This is a volume decline of 8 per cent and a decline of 2 per cent or NOK 488 million compared with the first quarter last year.
Norway exported 2.6 million tonnes of seafood worth NOK 94.5 billion in 2017. This is an increase in value of 3 per cent, or NOK 3 billion, and an increase in volume of 7 per cent from the record year of 2016. This is the equivalent of 36 million meals every day, year round.
Norway exported salmon worth NOK 64.7 billion in 2017. This is an increase of 5 per cent or NOK 3.4 billion compared with 2016, and it is the highest export value ever for salmon. Measured in product weight, Norway exported 1 million tonnes of salmon in 2017, which is 2.8 per cent or 27,000 tonnes more than in 2016.
Never before has Norway exported a greater value of seafood than in the first six months of 2017. The increase is due primarily to record-high salmon prices but also to strong growth in export volumes to the U.S. and Asian markets.
Norway exported salmon worth NOK 61.4 billion in 2016. This is an increase of 29 per cent, or NOK 13.8 billion compared with 2015, and is the highest export value of salmon ever. Measured by volume, Norway exported 980,000 tonnes of salmon in 2016, which is 5.2 per cent or, 53,340 tonnes less than in 2015.
Entering the last month of 2016, the Norwegian seafood industry year to date exports totalled NOK 83.2 billion. By value this represents an increase of NOK 16 billion compared to the same period last year.
The value of Norwegian salmon in October exceeded the total export value for the whole of 2015. Export value increases were highest in Asia, North America and Africa.
Norway has beaten all previous records and exported seafood worth NOK 65 billion this year to date. This is an increase of 26 per cent or NOK 13.2 billion compared with the same period last year. September exports marked an all time high, totalling NOK 8.8 billion. An increase of 31 per cent or NOK 2.1 billion from September 2015.
The price of Norwegian salmon remains high. With an average price of NOK 58 per kg, export values in August were 42 per cent higher than the same month in 2015. Norwegian trout prices have doubled.
