February 26, 2010

Norwegian salmon exports hit new heights

The highest export value for Norwegian salmon has been recorded in January, totalling NOK1.8 billion (US$304.2 million), no less than NOK260 million (US$43.9 million) up on the same period last year.

According to figures from the Norwegian Seafood Export Council, the export price of fresh Norwegian salmon in January was NOK29.16 per kg, NOK0.54 higher than a year ago and NOK0.19 higher than the previous month.

Although the majority of Norwegian salmon exports are destined for the European markets, export growth in January was strongest in Asia and the US. While the value of exports to Europe grew by 7%, the value of exports to Asia grew by 28% and to the US by an impressive 276%.

However, these two countries' share of the total export market remains small at 12% and 7% respectively, while Europe's share fell from 86% in January last year to 79% in January this year.

The German salmon market is one of the biggest in Europe after France and the UK, with much of the Norwegian salmon consumed in Germany first being further processed in countries such as Poland and Denmark. In January this year, the value of direct exports of Norwegian salmon to Germany increased by 26% to NOK98 million, attributable to growth in exports of frozen fillets.

The value of exports of Norwegian Fjord Trout in January totalled NOK125 million, down by about NOK10 million compared with January last year. Export volume was also down by 899 tonnes to 3,672 tonnes. The most important markets for Norwegian Fjord Trout in January were Russia and China.