February 8, 2023

 

Norwegian salmon exports to the US have increased by 59%

 

Norway has seen a significant increase in salmon exports to the US in January 2023, with a 59% rise in value, or NOK 344 million (~US$33 million; NOK 10 = US$0.97), compared to the same month last year, Fish Information & Services reported.

 

As a result, the US has become Norway's leading market for salmon exports, the highest increase in value among all markets in the first month of the year.

 

Anne-Kristine Oen, Norway's seafood envoy to the US, said they are observing a robust increase in demand for Norwegian salmon in the American market.

 

Norway's total salmon exports in January has increased 25% in value, reaching NOK 8.9 billion (~US$861 million). The volume of exports fell by 6%, but the strong dollar and reduced competition from other nations, along with increased demand for salmon, have positively impacted the value of exports.

 

The biggest markets for salmon in January were the US, Poland, and France. The average export price for whole fresh salmon in January was also 32% higher than the previous year, contributing to the overall increase in value.

 

A record-high price for fresh salmon fillets was also recorded in January at NOK 140 (~US$13.54) per kg, which is NOK 11 (~US$1.06) per kg higher than the previous record month in May 2022.

 

Paul Aandahl, seafood analyst with the Norwegian Seafood Council said the average export price for Norweigian salmon was NOK 93.25 (~US$9.02) per kg for fresh whole salmon in January.

 

Aandahl said in terms of value, 34% of the salmon exported in January went to markets outside of Europe. The last time the value was this high was in 1989.

 

He said the highest contributors to this turnaround have been increased export volume and high prices to the United States and China.

 

-      Fish Information & Services