April 6, 2023

Norwegian salmon, trout exports experience growth in value

Norwegian salmon exports saw a significant increase in value of 34% in March 2023 compared to March 2022, while the country's trout exports also saw an 18% increase in value during the first quarter of 2023 when compared to the same period in the previous year, Fish Information & Services reported.

Norway exported 93,700 tonnes of salmon worth NOK 11.3 billion (~US$1.07 billion; NOK 10 = US$0.95) in March. The value of these exports increased by NOK 2.9 billion (~US$278.1 million) or 34% compared to March 2022, despite a 4% decline in volume.

The country exported 10,200 tonnes of trout worth NOK 1.1 billion (~US$105.49 million) in the first quarter of 2023. The value of these exports was up by NOK 169 million (~US$16.21 million), or 18%, compared to the same period last year.

The US, Thailand, and Lithuania were the biggest markets for Norwegian trout in the first quarter. Lithuania had the largest increase in export value, with an increase of NOK 109 million (~US$10.45 million) compared to the same quarter last year. The export volume ended at 1,100 tonnes.

Trout prices also reached historic highs in the first quarter. Fresh trout fillets cost NOK 143 (~US$13.71) per kg, which is NOK 7 (~US$0.67) higher than the previous record quarter, which was in the fourth quarter of 2022.

Fresh whole trout also reached a record price high of NOK 108 (USD 10.36) per kg, which is NOK 8 (USD 0.77) higher than the previous record quarter, which was in the second quarter of 2022.

In March, Norway exported 4,100 tonnes of trout worth NOK 480 million (~US$46 million). When compared to March of last year, the value of trout exports increased by NOK 200 million (~US$19.18 million), or 71%. Trout exports increased by 27% in volume.

-      Fish Information & Services