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Norwegian salmon exports grow strongly in the first quarter

Norwegian salmon exports grow strongly in the first quarter

OSLO: Norwegian salmon exports reached a market value of NOK 13.4 billion (USD 1.6 billion) in Q1 this year, representing a 21 per cent growth year on year.

However, these exports experienced a 6 per cent decline as to volume, to 227,464 tonnes compared with the first quarter last year.

Only in March, these exports were worth NOK 4.9 billion, which is an 18 per cent increase compared to the same month in 2015. In volume terms, March exports amounted to 80,663 tonnes, representing a 13 per cent decline.

”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”, pointed out Paul T. Aandahl, analyst for salmon and trout at the Norwegian Seafood Council.

The average export price for fresh whole Norwegian Salmon in the first quarter was NOK 56.68 per kg, which is 33 per cent higher than the average prices in the analysed period in 2015.

Considering only the third month of the year, this export price was 43 per cent higher than in March 2015.

Norway exported salmon to the EU for NOK 9.9 billion in the first three months of the year, which is 23 per cent higher than in the first quarter in 2015. Measured by volume, there was a 5 per cent reduction in these exports.

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 the analysed period, 61 per cent in value and 11 per cent by volume compared with Q1 2015.

In addition, Norwegian exported salmon to Asia experienced a 24 per cent growth in value but an 8 per cent decline in volume.

Another growth was seen in salmon exports to the United States, where they were 32 per cent higher year-on-year in value and 6 per cent in volume.

In the analysed period, Norway also exported trout, which reached NOK 906 million in value, representing a 99 per cent growth year on year. These exports increased by 91 per cent in volume. Top buyers of trout from Norway in the first quarter of this year were Belarus, Poland and Japan.

Considering only March, exports of this species were worth NOK 319 million, which is an increase of 76 per cent. Measured by volume, 6,337 tonnes of trout were exported in the third month of the year, representing a 55 per cent growth.